Zacks Investment Research Upgrades Royal Dutch Shell PLC (RDS.A) to “Hold”
Royal Dutch Shell PLC (NYSE:RDS.A) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Royal Dutch Shell shares are up +5.4% in the year-to-date period vs. the -3.3% loss for the broader industry, with the stock getting a boost from the strong Q2 earnings report (the stock has gained in excess of +5% since then). The integrated behemoth's upstream unit swung to a Q2 profit from a year-ago loss thanks to steady oil price recovery during the period and production contribution of BG assets. The Hague-based supermajor was also able to reduce operating costs and progress on its large divestment program. Importantly, the Anglo-Dutch company generated a surge in cash flows, allowing it to cut debt and cover its cash dividend. However, with oil falling below the psychologically-critical $50 threshold again, Shell's near-to-medium term revenue outlook remains cloudy. Hence, we advise investors to wait for a better entry point before buying shares in Europe's largest oil company.”
RDS.A has been the subject of a number of other reports. Simmons cut their price target on Royal Dutch Shell PLC from $61.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, April 20th. Citigroup Inc. lowered Royal Dutch Shell PLC from a “neutral” rating to a “sell” rating and set a $47.00 price target for the company. in a report on Wednesday, April 19th. Morgan Stanley reiterated a “buy” rating on shares of Royal Dutch Shell PLC in a report on Thursday, April 13th. Exane BNP Paribas upgraded Royal Dutch Shell PLC from a “neutral” rating to an “outperform” rating in a report on Friday, May 26th. Finally, Macquarie lowered Royal Dutch Shell PLC from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. Royal Dutch Shell PLC has a consensus rating of “Buy” and an average target price of $57.13.
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Royal Dutch Shell PLC Company Profile
The Royal Dutch Shell plc explores for crude oil and natural gas around the world, both in conventional fields and from sources, such as tight rock, shale and coal formations. The Company’s segments include Integrated Gas, Upstream, Downstream and Corporate. The Integrated Gas segment is engaged in the liquefaction and transportation of gas and the conversion of natural gas to liquids to provide fuels and other products, as well as projects with an integrated activity, ranging from producing to commercializing gas.
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