Shell profit jumps on strong refining, cash flow slows

In a report announced on 11/1/2017 RBC Capital Markets hold steady the price target of Royal Dutch Shell (LON:RDSB) from 2,500.00GBX to 2,500.00GBX stating a potential upside of 0.04%.

Indeed, the blue-chip oiler reported a big jump in income (attributable to shareholders) at US$4.08bn, compared to US$1.54bn in the preceding three month period and the US$1.375bn in the same quarter of 2016. The company presently has a consensus rating of "Buy" and a consensus target price of GBX 2,067.24 ($25.58).

Shell has undertaken a major overhaul of its business by shifting the balance of its activities from oil towards more production, and from high-cost areas towards projects that can be profitable even at very low oil prices. The Company's segments include Integrated Gas, Upstream, Downstream and Corporate.

"Earnings benefited mainly from stronger refining and chemicals industry conditions, increased realised oil and gas prices and higher production from new fields, offsetting the impact of field declines and divestments", the group said.

Cash flow from operations in the third quarter, however, fell by 11 percent from a year earlier to $7.58 billion, ending a run of six consecutive quarterly gains as cost-cutting measures taken have kicked in.

Mr Van Beurden said the group's oil and gas production business generated nearly half of its $10bn cash flow from operations at an average price of $52 a barrel.

"Shell's three businesses all made resilient contributions to this strong set of results", said Chief Executive Ben van Beurden.

"This competitive performance is further evidence of Shell's growing momentum, and strengthens my firm belief that our strategy is working".

Like this


02 November 2017
US Indices end on a mixed Note post Federal Reserve announcement
Crude oil futures firmed, with Brent crude LCOc1 up 14 cents at $60.63 per barrel and US crude CLc1 up 3 cents at $54.33. At 0600 GMT, the S&P BSE Sensex rose 0.13 percent at 33,644 while the broader NSE Nifty added 0.06 percent to 10,446.

02 November 2017
Quant Scores & Investor Update on Graphic Packaging Holding Company (NYSE:GPK)
Investors look at the Volatility 12m to determine if a company has a low volatility percentage or not over the course of a year. The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings.

02 November 2017
BMC nod for rooftop restaurants
Association's spokesperson Pradeep Shetty said "We are happy that the government is doing its bit for tourism. The license holders would be legally responsible to take proper safety and security measures on the premises.

02 November 2017
Enbridge Energy, LP (EEP) Releases Earnings Results
Letwin holds 15,000 (0.0030% of shares outstanding) and James Herbert England holds 8,626 (0.0017% of shares outstanding). Enbridge Energy Management, L.L.C. (NYSE:EEQ) has declined 11.33% since November 1, 2016 and is downtrending.

02 November 2017
HTC announces two new U11 smartphones: Life and Plus
It ships with Android 8.0 Oreo straight out of the box; it's also the first "Android One"-certified smartphone encountered". Though here, as with the U11, it can either trigger Google assistant or Alexa, rather than having to call them out by name.

02 November 2017
Tesla gives wishy-washy outlook for Model 3 production issues
Tesla, which rarely turns a profit, posted a net loss of $619 million for the quarter. Tesla's shares dropped about 5 percent to $305.31 in after-hours trading Wednesday.

02 November 2017
The CI Investments Inc. decreases its position in Sealed Air Corp
The company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.69 by $0.02. Tower Research Capital Limited Liability Co (Trc) accumulated 1,229 shares. 740 are held by Mufg Americas Holdings Corporation.

02 November 2017
Raila and Uhuru's teams dismiss church's proposal to solve Kenya's political crisis
Protests have killed at least nine people since the election, further exposing the divisions roiling East Africa's economic hub. Odinga withdrew from the repeat poll claiming reforms demanded by the opposition had not been made to the electoral commission.

02 November 2017
NY officials speak on attack
Both said they did not receive calls directly from the president, but were called by Acting Homeland Security Sec. A million New Yorkers came out for the Halloween parade, just hours after the incidents, Cuomo said .

02 November 2017
Earnings Approximations to Watch: Annaly Capital Management, Inc. (NLY), Lennar Corporation (LEN)
Currently, 232.45 million total shares are owned by the public and among those 209.42 million shares have been available to trade. ValuEngine cut Annaly Capital Management from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 26th.