Royal Dutch Shell PLC (NYSE:RDS.A) Upgraded to “Hold” at Zacks Investment Research
Royal Dutch Shell PLC (NYSE:RDS.A) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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 several other research reports. Morgan Stanley reiterated a “buy” rating on shares of Royal Dutch Shell PLC in a report on Thursday, April 13th. Citigroup Inc. cut shares of 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. Simmons reduced their price target on shares of 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. Societe Generale upgraded shares of Royal Dutch Shell PLC from a “hold” rating to a “buy” rating in a report on Friday, May 5th. Finally, Scotiabank set a $54.00 price target on shares of Royal Dutch Shell PLC and gave the company a “hold” rating in a report on Saturday, May 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.13.
About Royal Dutch Shell PLC
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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