Sector Update: Energy Stocks Decline Late Afternoon

MT Newswires

Energy stocks fell late Friday afternoon with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) both shedding 0.6%

The Philadelphia Oil Service Sector Index dropped 2.3%, while the Dow Jones US Utilities Index added 1.3%.

West Texas Intermediate crude oil declined 1% to $69.24 a barrel, and global benchmark Brent shed 1% to $72.63 a barrel. Henry Hub natural gas futures climbed 3.6% to $4.07 per 1 million BTU.

In corporate news, EQT is expected to report a strong operational quarter with cash flow per share and production likely exceeding Wall Street estimates, UBS Securities said. EQT shares rose 1%.

Rio Tinto has held talks with the Democratic Republic of Congo about developing the Roche Dure lithium deposit, which is one of the largest in the world, Bloomberg reported. Rio shares fell 2.1%.

Phillips 66 board member Bob Pease, who was appointed with Elliott Investment Management's support, issued a letter to shareholders in which he criticized the activist investor for wanting him off the board now. Phillips 66 shares fell 2.5%.

Elliott Investment Management has a short position in Shell , amounting to 0.5% of the oil giant, a Financial Conduct Authority filing Thursday showed. The Shell short position is part of Elliott's global hedging program, a source familiar with the situation told MT Newswires on Friday. Shell declined 0.5%.

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Sector Update: Energy Stocks Fall in Friday Afternoon Trading

MT Newswires

Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index falling 1% and the Energy Select Sector SPDR Fund (XLE) down 0.9%

The Philadelphia Oil Service Sector index dropped 2.5%, while the Dow Jones US Utilities index added 0.9%.

Front-month West Texas Intermediate crude oil was declining 0.9% to $69.32 a barrel, and the global benchmark Brent crude contract was shedding 0.6% to $73.57 a barrel. Henry Hub natural gas futures climbed 3.2% to $4.05 per 1 million BTU.

In corporate news, Phillips 66 board member Bob Pease, who was appointed with Elliott Investment Management's support, issued a letter to shareholders in which he criticized the activist investor for wanting him off the board now. Phillips 66 shares were down 2.1%.

Elliott Investment Management has taken a short position in Shell , amounting to 0.5% of Shell, a Financial Conduct Authority filing Thursday showed. The Shell short position is part of Elliott's global hedging program, a source familiar with the situation told MT Newswires on Friday. Shell was down 0.9%.

Empire Petroleum shares fell 2.9% after it posted late Thursday lower Q4 revenue.

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Director/PDMR Shareholding

Dow Jones Newswires

Shell

+0.50%

Director/PDMR Shareholding

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES IN ACCORDANCE WITH THE REQUIREMENTS OF THE EU AND UK MARKET ABUSE REGIMES

March 28, 2025

 
1. Details of the person discharging managerial responsibilities/person 
 closely associated 
-------------------------------------------------------------------------- 
First Name(s)                                           Robin 
------------------------------------------  ------------------------------ 
Last Name(s)                                           Mooldijk 
------------------------------------------  ------------------------------ 
2. Reason for the notification 
-------------------------------------------------------------------------- 
Position/status                             Projects & Technology Director 
------------------------------------------  ------------------------------ 
Initial notification/amendments                  Initial notification 
------------------------------------------  ------------------------------ 
3. Details of the issuer, emission allowance market participant, 
 auction platform, auctioneer or auction monitor 
-------------------------------------------------------------------------- 
Full name of the entity                               Shell plc 
------------------------------------------  ------------------------------ 
Legal Entity Identifier code                     21380068P1DRHMJ8KU70 
------------------------------------------  ------------------------------ 
4. Details of the transaction(s) section to be repeated for (i) 
 each type of instrument, (ii) each type of transaction, (iii) 
 each date, (iv) each place where transactions have been conducted 
-------------------------------------------------------------------------- 
                                            Ordinary shares with a nominal 
Description of the financial instrument          value of EUR0.07 each 
------------------------------------------  ------------------------------ 
Identification Code                                  GB00BP6MXD84 
------------------------------------------  ------------------------------ 
Nature of the transaction                    Disposal of ordinary shares 
------------------------------------------  ------------------------------ 
Currency                                                 EUR 
------------------------------------------  ------------------------------ 
Price                                                        EUR33.8505446 
                                            ------------------------------ 
Volume                                                              50,000 
                                            ------------------------------ 
Total                                                      EUR1,692,527.23 
------------------------------------------  ------------------------------ 
Aggregated information: 
Price                                                        EUR33.8505446 
                                            ------------------------------ 
Volume                                                              50,000 
                                            ------------------------------ 
Total                                                      EUR1,692,527.23 
------------------------------------------  ------------------------------ 
For full breakdown see table at the end of this notification. 
-------------------------------------------------------------------------- 
Date of transaction                         March 26, 2025 
------------------------------------------  ------------------------------ 
Place of transaction                        Off Exchange 
------------------------------------------  ------------------------------

Julie Keefe

Deputy Company Secretary

ENQUIRIES

Shell Media Relations

International, UK, European Press: +44 20 7934 5550

LEI number of Shell plc: 21380068P1DRHMJ8KU70

Classification: Additional regulated information required to be disclosed under the laws of the United Kingdom.

Full breakdown of transaction

 
                             Total for trade 
Total Quantity  Price (EUR)   (EUR) 
--------------  -----------  --------------- 
363             33.855       12289.365 
--------------  -----------  --------------- 
1426            33.8525      48273.665 
--------------  -----------  --------------- 
622             33.8525      21056.255 
--------------  -----------  --------------- 
876             33.8525      29654.79 
--------------  -----------  --------------- 
74              33.8425      2504.345 
--------------  -----------  --------------- 
58              33.8425      1962.865 
--------------  -----------  --------------- 
266             33.84        9001.44 
--------------  -----------  --------------- 
232             33.84        7850.88 
--------------  -----------  --------------- 
1290            33.84        43653.6 
--------------  -----------  --------------- 
850             33.8425      28766.125 
--------------  -----------  --------------- 
1021            33.8425      34553.1925 
--------------  -----------  --------------- 
1085            33.8375      36713.6875 
--------------  -----------  --------------- 
1358            33.8375      45951.325 
--------------  -----------  --------------- 
195             33.8375      6598.3125 
--------------  -----------  --------------- 
1374            33.8375      46492.725 
--------------  -----------  --------------- 
1374            33.8375      46492.725 
--------------  -----------  --------------- 
475             33.8375      16072.8125 
--------------  -----------  --------------- 
1941            33.8375      65678.5875 
--------------  -----------  --------------- 
523             33.8325      17694.3975 
--------------  -----------  --------------- 
2286            33.83        77335.38 
--------------  -----------  --------------- 
565             33.835       19116.775 
--------------  -----------  --------------- 
282             33.835       9541.47 
--------------  -----------  --------------- 
902             33.835       30519.17 
--------------  -----------  --------------- 
70              33.8325      2368.275 
--------------  -----------  --------------- 
1055            33.8325      35693.2875 
--------------  -----------  --------------- 
354             33.835       11977.59 
--------------  -----------  --------------- 
986             33.8325      33358.845 
--------------  -----------  --------------- 
81              33.835       2740.635 
--------------  -----------  --------------- 
344             33.835       11639.24 
--------------  -----------  --------------- 
95              33.835       3214.325 
--------------  -----------  --------------- 
917             33.8325      31024.4025 
--------------  -----------  --------------- 
413             33.835       13973.855 
--------------  -----------  --------------- 
59              33.835       1996.265 
--------------  -----------  --------------- 
107             33.8325      3620.0775 
--------------  -----------  --------------- 
891             33.84        30151.44 
--------------  -----------  --------------- 
2960            33.84        100166.4 
--------------  -----------  --------------- 
117             33.865       3962.205 
--------------  -----------  --------------- 
304             33.865       10294.96 
--------------  -----------  --------------- 
27              33.865       914.355 
--------------  -----------  --------------- 
37              33.865       1253.005 
--------------  -----------  --------------- 
115             33.865       3894.475 
--------------  -----------  --------------- 
1111            33.8625      37621.2375 
--------------  -----------  --------------- 
509             33.855       17232.195 
--------------  -----------  --------------- 
908             33.8525      30738.07 
--------------  -----------  --------------- 
361             33.86        12223.46 
--------------  -----------  --------------- 
1226            33.8625      41515.425 
--------------  -----------  --------------- 
618             33.8625      20927.025 
--------------  -----------  --------------- 
117             33.87        3962.79 
--------------  -----------  --------------- 
523             33.87        17714.01 
--------------  -----------  --------------- 
99              33.87        3353.13 
--------------  -----------  --------------- 
455             33.87        15410.85 
--------------  -----------  --------------- 
1080            33.87        36579.6 
--------------  -----------  --------------- 
1064            33.8675      36035.02 
--------------  -----------  --------------- 
916             33.8625      31018.05 
--------------  -----------  --------------- 
368             33.87        12464.16 
--------------  -----------  --------------- 
985             33.8675      33359.4875 
--------------  -----------  --------------- 
134             33.865       4537.91 
--------------  -----------  --------------- 
4               33.865       135.46 
--------------  -----------  --------------- 
591             33.865       20014.215 
--------------  -----------  --------------- 
8003            33.865       271021.595 
--------------  -----------  --------------- 
86              33.865       2912.39 
--------------  -----------  --------------- 
70              33.865       2370.55 
--------------  -----------  --------------- 
375             33.865       12699.375 
--------------  -----------  --------------- 
87              33.87        2946.69 
--------------  -----------  --------------- 
382             33.87        12938.34 
--------------  -----------  --------------- 
101             33.875       3421.375 
--------------  -----------  --------------- 
445             33.875       15074.375 
--------------  -----------  --------------- 
99              33.875       3353.625 
--------------  -----------  --------------- 
436             33.875       14769.5 
--------------  -----------  --------------- 
89              33.88        3015.32 
--------------  -----------  --------------- 
96              33.8775      3252.24 
--------------  -----------  --------------- 
292             33.8775      9892.23 
--------------  -----------  ----

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Why did activist investor Elliott build a short position in Shell stock?

Invezz

Shell

+0.50%

Shell PLC is in focus this morning after activist investor Elliott Investment Management announced a sizable short position in the British oil major.

Elliott has built an £850 million ($1.1 billion) position against the company based out of London, UK.

The news arrives only weeks after the asset manager revealed a close to 5.0% stake in peer BP plc (LON: BP).

Shell stock is down less than 1.0% following the Elliott news on Friday.

Elliott’s short position is not a critique of Shell

Elliott’s bet against Shell likely has more to do with risk management than critique, according to Quilter Cheviot’s energy and materials analyst Maurizio Carulli.

“When a hedge fund creates a long position, they need for risk management purposes to create an opposite position, i.e., a short, into a similar company,” he told clients in a research note today.

The activist investor first built a stake in BP, and now it’s choosing to short Shell to offset that long position for risk management.

Otherwise, macro factors, including changes in oil prices could result in a significant loss for Elliott Management, he clarified, adding “they now have some protection.”

The oil stock is currently up more than 10% versus the start of this year (2025).

Elliott also has a short position in TotalEnergies

Note that Elliott Management recently disclosed a short position in the French oil and gas titan TotalEnergies for similar reasons as well.

Neither Shell nor the activist investor has officially commented on the news so far.

Elliott is making moves in the European energy stocks at a time when their managements are rolling back on their ambitious plans of accelerated switch to renewables, and starting to spend again on fossil fuels.

Shell, for example, reiterated plans of increasing LNG output last week.

At the time, it also confirmed plans of spending just 10% of its capital employed on low-carbon initiatives – down sharply from 20% originally.

What to expect from Shell stock in 2025?

Elliott’s short position suggests it stands to profit if Shell stock price declines moving forward.

But analysts are not sure if that will happen.

The consensus rating on Shell currently sits at “buy” with the mean target of about $83 indicating about a 14% upside in the company’s US listed shares from current levels.

Earlier in March, Shell announced plans of increasing shareholder distributions from 40% tops to up to 50% and growing free cash flow on a per-share basis by over 10% annually through the end of this decade.

However, Shell’s income did decline significantly in 2024.

The oil major earned $23.72 billion (adjusted) last year, down from $28.25 billion in 2023.

The London-listed firm attributed much of that weakness to lower oil prices.

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Update: Elliott Takes Short Position in Shell, FCA Says

MT Newswires

Shell

+0.50%

(Updates with Shell response in last paragraph.)

Elliott Investment Management has taken a short position in Shell , amounting to 0.5% of Shell, a Financial Conduct Authority filing Thursday showed.

The Shell short position is part of Elliott's global hedging program, a source familiar with the situation told MT Newswires on Friday.

Shell declined to comment.

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Sector Update: Energy Stocks Edge Higher Premarket Friday

MT Newswires

Infinity Natural Resources Inc.

Energy stocks were advancing premarket Friday, with The Energy Select Sector SPDR Fund 0.1% higher.

The United States Oil Fund was up 0.2% and the United States Natural Gas Fund was 0.1% higher.

Front-month US West Texas Intermediate crude oil was up 0.1% at $70.01 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.1% to reach $74.09 per barrel, and natural gas futures were slightly higher at $3.93 per 1 million British Thermal Units.

Infinity Natural Resources I shares were down more than 17% after the company overnight reported that it swung to Q4 net loss as revenue fell during the period.

Woodside Energy said it agreed with oil and gas company Perenco to divest its Greater Angostura assets in Trinidad and Tobago for $206 million. Woodside Energy stock was 0.1% lower premarket.

Elliott Investment Management has taken a short position in Shell , amounting to 0.5% of Shell, a Financial Conduct Authority filing showed. Shell's shares were 0.3% lower pre-bell.

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Lululemon, General Motors and Apple fall premarket; CureVac gains

Investing.com

Investing.com -- US stock futures slipped lower Friday, with investors focusing on the release of key inflation data amid an uncertain economic outlook.

Here are some of the biggest premarket U.S. stock movers today:

Lululemon (NASDAQ:LULU) stock slid 11% after the sportswear maker provided downbeat annual forecasts as the broader apparel space battles an uneven consumer demand environment.
General Motors (NYSE:GM) slid 0.5% following a 7% decline in the previous session, while Ford (NYSE:F) slipped 0.6% after a 3.9% drop, as investors reacted to the Trump administration’s tariffs on auto imports.
Apple (NASDAQ:AAPL) stock fell 0.8% and Meta Platforms (NASDAQ:META) stock rose 0.1% after the Financial Times reported that the European Union is set to impose minimal fines on the tech giants under the Digital Markets Act next week in a bid to avoid worsening tensions with President Donald Trump.
Shell (NYSE:SHEL) ADRs fell 0.3% after filings showed that U.S. activist hedge fund Elliott Management has taken a big short position in the energy major amid its campaign for more change at BP (NYSE:BP).
Applovin (NASDAQ:APP) stock rose 8.7%, bouncing after losses of over 20% in the previous session when a prominent short seller, Muddy Waters Research, issued a negative report on the app marketing firm.
Braze (NASDAQ:BRZE) stock rose 11% after the customer engagement software provider beat revenue expectations in the fourth quarter, with sales up 22.5% year on year.
Oxford Industries (NYSE:OXM) stock slumped 13% after the fashion conglomerate announced its full-year sales fell 3%, on the back of declines across its direct-to-consumer channel.
United States Steel Corporation (NYSE:X) rose 4.2% after Semafor reported that Nippon Steel and the U.S. steel producer are in active talks about a deal that would preserve their $14 billion merger and secure billions more in investments from the Japanese steelmaker into Rust Belt facilities.
CureVac NV (NASDAQ:CVAC) stock soared 14% after the European Patent Office declared a patent owned by the biopharmaceutical company valid, after a challenge from drugmaker BioNTech (NASDAQ:BNTX).