Shell Asset Management Co. Reduces Holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Shell Asset Management Co. cut its holdings in Clean Energy Fuels Corp. (NASDAQ:CLNEFree Report) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 192,385 shares of the utilities provider’s stock after selling 20,499 shares during the quarter. Shell Asset Management Co. owned 0.09% of Clean Energy Fuels worth $737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CLNE. ECP ControlCo LLC purchased a new stake in shares of Clean Energy Fuels in the fourth quarter valued at approximately $13,493,000. State Street Corp increased its position in shares of Clean Energy Fuels by 19.6% in the second quarter. State Street Corp now owns 12,696,002 shares of the utilities provider’s stock valued at $56,878,000 after buying an additional 2,082,455 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Clean Energy Fuels by 16.6% in the first quarter. Dimensional Fund Advisors LP now owns 10,089,049 shares of the utilities provider’s stock valued at $43,988,000 after buying an additional 1,435,096 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Clean Energy Fuels by 297.6% in the second quarter. Point72 Asset Management L.P. now owns 1,306,350 shares of the utilities provider’s stock valued at $6,479,000 after buying an additional 977,788 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Clean Energy Fuels by 65.0% in the third quarter. Alliancebernstein L.P. now owns 2,437,442 shares of the utilities provider’s stock valued at $13,016,000 after buying an additional 960,175 shares in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

Clean Energy Fuels Stock Up 0.3 %

Shares of CLNE opened at $2.93 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.42 and a current ratio of 2.69. Clean Energy Fuels Corp. has a one year low of $2.74 and a one year high of $5.98. The stock has a market capitalization of $653.45 million, a price-to-earnings ratio of -6.98 and a beta of 2.13. The stock has a 50 day moving average price of $3.43 and a 200 day moving average price of $3.79.

Clean Energy Fuels (NASDAQ:CLNEGet Free Report) last issued its earnings results on Thursday, November 9th. The utilities provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.04). The company had revenue of $95.57 million during the quarter, compared to analysts’ expectations of $109.91 million. Clean Energy Fuels had a negative net margin of 21.56% and a negative return on equity of 13.19%. Equities research analysts forecast that Clean Energy Fuels Corp. will post -0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CLNE shares. Stifel Nicolaus cut their price objective on Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. StockNews.com upgraded Clean Energy Fuels to a “sell” rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.25.

Read Our Latest Analysis on CLNE

Clean Energy Fuels Profile

(Free Report)

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.

See Also

Institutional Ownership by Quarter for Clean Energy Fuels (NASDAQ:CLNE)

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