Royal Dutch Shell B

  • TickerRDSB
  • ISINGB00B03MM408
  • ExchangeLondon Stock Exchange
  • SectorOil & Gas Producers
  • CountryUnited Kingdom

Analysts

Philip Morrish

Value Indicator - UK Main Market 16092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Basic Resources 16092019

Currently '(TM)Value Indicator - UK basic resources' is a value analysis of the Basic Resources sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Telia, Shell, AkzoNobel, Philips and EDF

TMT: Telia names CFO Luiga acting CEO; TELIA3.875 10/25 and TELIA3 9/27 favoured

Philip Morrish

Value Indicator - UK Basic Resources 09092019

Currently '(TM)Value Indicator - UK Basic Resources' is a value analysis of the Basic Resources super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 09092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target providers

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Marina Le Blanc
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit - Shell and Total SA show interest in Eneco

Royal Dutch Shell Plc: Divestments and improving cash generation to deliver stronger credit metrics in 2017

CORPORATES CREDIT OPINION 8 June 2017 Update RATINGS Royal Dutch Shell Plc Domicile Netherlands Long Term Rating Aa2 Type LT Issuer Rating - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Elena Nadtotchi 44-20-7772-5380 VP-Sr Credit Officer [email protected]

Royal Dutch Shell Plc - March 2017 (LTM): Peer Snapshot

Peer Snapshot:  Royal Dutch Shell Plc - March 2017 (LTM) 5 June 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-15 FYE Dec-16 LTM Mar-17

ING
Research Department

Benelux Morning Notes

AMG: Feedback from Capital Markets Day. Eurocommercial Prperties: €20m / 1.7% share buyback. Royal Dutch Shell A: Divestment programme continues. Staffing sector: Dutch figs; period 5: vol -10%, rev -6% (was -6%, -3%) on tough comps. Staffing sector: French data - April trend and May outlook a touch better underlying. TKH Group: Raising group targets

Allen Good

Morningstar | Shell’s Latest Outlook Maintains Focus on Cash Flow Growth and Returns to Shareholders

With its management day on Tuesday, narrow-moat Shell extended its outlook through 2025 from the existing plan that runs through 2020. The latest plan calls for organic free cash flow of $35 billion in 2025 from a range of $28 billion-$33 billion in 2020, with returns on capital rising to 12% from 10%, and gearing falling to 15%-25% from 25%. Cash capital expenditures should tick up to $30 million on average (including about $1 billion in acquisition spending) from $24 billion->$29 billion expected through 2020, with a ceiling of $32 billion. Shareholder distributions, including dividends and ...

Allen Good

Shell’s Latest Outlook Maintains Focus on Cash Flow Growth and Returns to Shareholders

With its management day on Tuesday, narrow-moat Shell extended its outlook through 2025 from the existing plan that runs through 2020. The latest plan calls for organic free cash flow of $35 billion in 2025 from a range of $28 billion-$33 billion in 2020, with returns on capital rising to 12% from 10%, and gearing falling to 15%-25% from 25%. Cash capital expenditures should tick up to $30 million on average (including about $1 billion in acquisition spending) from $24 billion->$29 billion ex...

ING
Research Department

Benelux Morning Notes

Royal Dutch Shell A: We are Shell

Allen Good

Morningstar | RDSB Updated Forecasts and Estimates from 07 May 2019

With the restoration of its cash dividend, Shell has demonstrated that it has taken the necessary steps to remain competitive in a world of $60/barrel oil. Like the rest of the integrated group, Shell has reduced its cost base, which had become bloated, in part by reducing headcount and improving its supply chain. Furthermore, the addition of BG’s low-cost production reduces Shell’s per-barrel operating cost, which ranked among the highest in its peer group. Shell already reduced operating cost by 20% from 2014 levels and holds that potential further reductions are possible in later years.At t...

Philip Morrish

Value Indicator - UK Main Market 16092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Basic Resources 16092019

Currently '(TM)Value Indicator - UK basic resources' is a value analysis of the Basic Resources sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Basic Resources 09092019

Currently '(TM)Value Indicator - UK Basic Resources' is a value analysis of the Basic Resources super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 09092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target providers

Philip Morrish

Value Indicator - UK Main Market 02092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Telia, Shell, AkzoNobel, Philips and EDF

TMT: Telia names CFO Luiga acting CEO; TELIA3.875 10/25 and TELIA3 9/27 favoured

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/EDF, Royal Dutch Shell

EDF's (EDF) regulated electricity prices in France will be allowed to increase by 6% in June 2019. In January, the regulator advised on the tariff hike in order to align with the higher market prices seen in the last two years. In January the government decided to freeze tariffs on the ongoing “yellow vests” crisis which initially started on complaints around high energy prices and related taxes in the country. We consider this news to be credit supportive for EDF with its generation and supply activities in France representing c.40% of the group's EBITDA.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Proximus and Royal Dutch Shell

Proximus (PROXBB) released satisfactory 4Q18 results this morning. Underlying sales declined 0.5% to €1,469m, with the Domestic operations reporting a 0.8% decrease and BICS a 0.5% improvement. Underlying EBITDA at group level was up 0.9% to €449m, resulting in a 2.4% rise to €1,866m in the full year.

ING
Nadège Tillier

Royal Dutch Shell/YE18 results beat estimates and boost credit metrics

The Dutch-British oil & gas major kicked off the year-end 2018 results session for the energy sector. For the twelve months of 2018, the company reported CCS earnings of US$23.8bn, representing net income adjusted for current cost of supplies. The YE18 numbers mean a 97% growth vs YE17. Royal Dutch Shell benefited from an average Brent oil price of US$71/bbl in 2018 compared with US$54/bbl in 2017 despite a hard-landing in December when Brent fell as low as US$43/bbl. The strong operational and financial results are boosting Royal Dutch Shell's credit metrics. However, the strong ratios could ...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Argenta, Barclays, BT Group and Shell

Argenta Spaarbank (ARGSPA) yesterday printed a 5yr €500m preferred senior unsecured bond at MS+85bp. The bond is expected to be rated A- by S&P. The rating is thus aligned with preferred paper of Belfius (CCBGBB) and de Volksbank (DEVOBA). The bond offers some pickup versus Benelux comparables as it was priced around 20bp over the interpolated 5yr levels of de Volksbank and Belfius. The bond performance is likely to be supported by limited supply pressure. (For full story, download report)

Jérôme VINERIER

Analyse court terme - ROYAL DUTCH SHELL PLC-B : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 2 447,88 p. La tendance baissière serait remise en cause au-dessus de 2 806,00 p.

Jérôme VINERIER

Short term view - ROYAL DUTCH SHELL PLC-B : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at 2,447.88 p. The bearish trend would be challenged above 2,806.00 p.

Jérôme VINERIER

Short term view - ROYAL DUTCH SHELL PLC-B : The movement goes on.

The trend is bearish. The movement goes on. The next target is at 2,447.88 p, then 2,328.00 p. Passing 2,806.00 p would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - ROYAL DUTCH SHELL PLC-B : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 2 447,88 p, puis 2 328,00 p. Le franchissement de 2 806,00 p remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse moyen terme - ROYAL DUTCH SHELL PLC-B : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 2 511,00 p. La tendance serait remise en cause par la rupture de 2 137,00 p.

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