Zacks Investment Research upgraded shares of Royal Dutch Shell (NYSE:RDS.A) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $72.00 price target on the energy company’s stock.
According to Zacks, “Royal Dutch Shell shares have outperformed the Zacks Oil & Gas Integrated industry over the past month (+0.3% versus -1.4%) and it looks like the stock is poised for strong performance in 2019. The integrated behemoth's recent results have been driven by robust commodity prices and higher downstream earnings. Shell’s upstream unit profit has rebounded strongly thanks to steady commodity price recovery, while the integrated gas business — consisting of BG Group activities — impressed on the back of pricing gains. Importantly, the Anglo-Dutch company's position as a key supplier of LNG should benefit its long-term cash flow growth. Consequently, Shell is likely to offer substantial upside from the current price levels and is viewed as a preferred supermajor to own now.”
RDS.A has been the topic of a number of other research reports. Wells Fargo & Co started coverage on Royal Dutch Shell in a report on Tuesday, December 18th. They set an outperform rating on the stock. Morgan Stanley lowered Royal Dutch Shell from an equal weight rating to an underweight rating in a report on Tuesday, January 22nd. Finally, Royal Bank of Canada lowered Royal Dutch Shell from an outperform rating to a sector perform rating in a report on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Royal Dutch Shell has an average rating of Hold and a consensus price target of $79.75.
Royal Dutch Shell (NYSE:RDS.A) last posted its quarterly earnings results on Thursday, January 31st. The energy company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.07. Royal Dutch Shell had a return on equity of 10.58% and a net margin of 5.91%. The company had revenue of $104.63 billion during the quarter, compared to the consensus estimate of $86.91 billion. On average, research analysts forecast that Royal Dutch Shell will post 5.12 EPS for the current fiscal year.
Royal Dutch Shell Company Profile
Royal Dutch Shell plc operates as an energy and petrochemical company worldwide. The company operates through Integrated Gas, Upstream, and Downstream segments. It explores for, and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure necessary to deliver gas to market.
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