Economy

Shell to sell entire $3.3bn stake in Canadian Natural Resources

Shell to sell entire $3.3bn stake in Canadian Natural Resources”

Credit Suisse Group set a GBX 2,725 ($36.96) price target on shares of Royal Dutch Shell and gave the stock a buy rating in a research note on Friday, January 5th. The firm now has a buy rating on the stock. They set a "buy" rating on the stock.

The financial company has just set a target of GBX 2980.00 on Royal Dutch Shell (LON:RDSB) shares. Royal Dutch Shell has GBX 3000 highest and GBX 2411 lowest target. The company now has a consensus rating of "Buy" and a consensus price target of $45.00. The stock has "Overweight" rating by Barclays Capital on Monday, November 13. Barclays Capital maintained it with "Overweight" rating and GBX 2850 target in Friday, November 24 report. The firm earned "Buy" rating on Wednesday, December 20 by Jefferies. HSBC downgraded the stock to "Hold" rating in Tuesday, November 21 report. The firm has "Overweight" rating by Barclays Capital given on Tuesday, April 3. JP Morgan maintained the shares of RDSB in report on Monday, January 22 with "Overweight" rating. Barclays Capital maintained Royal Dutch Shell plc (LON:RDSB) rating on Tuesday, February 27.

The stock increased 1.55% or GBX 40.5 during the last trading session, reaching GBX 2655.5. Bbva Compass Bancshares Inc. now owns 62,705 shares of the oil and gas producer's stock valued at $1,974,000 after purchasing an additional 3,495 shares during the period. It has underperformed by 11.55% the S&P500.

People familiar with the situation told Reuters almost a year ago that the Anglo-Dutch group had chose to offload the stake in Canadian Natural Resources that it acquired as part of a deal to retreat from Canada's oil sands.

Shell is in the midst of a $30 billion divestment program, slimming down after a 2015 mega-merger with British energy company BG Group.

Shell acquired Canadian the stake in Canadian Natural as part of a $7.25bn deal that saw the firm selling off its entire Canadian oil sands interest, bar its 10% stake in the Athabasca project, in March 2017. During the same quarter last year, the firm posted $0.25 earnings per share. sell-side analysts anticipate that Canadian Natural Resources will post 2.18 EPS for the current fiscal year.

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