Encompass Capital Advisors LLC Sells 739,451 Shares of OPAL Fuels Inc. (NASDAQ:OPAL)

Encompass Capital Advisors LLC reduced its stake in OPAL Fuels Inc. (NASDAQ:OPAL) by 32.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,506,795 shares of the company’s stock after selling 739,451 shares during the quarter. Encompass Capital Advisors LLC owned about 0.87% of OPAL Fuels worth $6,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in OPAL. Levin Capital Strategies L.P. bought a new stake in OPAL Fuels in the first quarter worth $136,000. Vanguard Group Inc. boosted its stake in OPAL Fuels by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after purchasing an additional 86,531 shares in the last quarter. Marshall Wace LLP purchased a new stake in OPAL Fuels during the 2nd quarter valued at about $389,000. SIR Capital Management L.P. increased its stake in OPAL Fuels by 76.3% during the 2nd quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock valued at $1,587,000 after purchasing an additional 167,940 shares in the last quarter. Finally, Grizzlyrock Capital LLC bought a new stake in OPAL Fuels during the 4th quarter valued at about $4,611,000. 12.16% of the stock is owned by institutional investors.

OPAL Fuels Price Performance

OPAL stock opened at $3.53 on Thursday. OPAL Fuels Inc. has a 1 year low of $3.04 and a 1 year high of $8.46. The company has a market cap of $608.86 million, a P/E ratio of 4.71 and a beta of 0.48. The stock’s fifty day moving average price is $3.69 and its 200-day moving average price is $4.31.

OPAL Fuels (NASDAQ:OPAL) last announced its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $70.95 million for the quarter, compared to analysts’ expectations of $80.68 million. OPAL Fuels had a negative return on equity of 2.14% and a net margin of 2.50%. As a group, analysts expect that OPAL Fuels Inc. will post 0.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OPAL shares. UBS Group cut their price target on shares of OPAL Fuels from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, August 9th. Scotiabank lowered OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $8.00 to $5.00 in a report on Tuesday, September 3rd. The Goldman Sachs Group decreased their price target on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating for the company in a research note on Friday, August 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $10.00 price objective on shares of OPAL Fuels in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.90.

OPAL Fuels Profile

OPAL Fuels Inc, together with its subsidiaries, engages in the production and distribution of renewable natural gas for use as a vehicle fuel for heavy and medium-duty trucking fleets. It also designs, develops, constructs, operates, and services fueling stations for trucking fleets that use natural gas to displace diesel as transportation fuel.