Shell's (SHEL) Buy Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank reiterated a Buy rating on Shell and maintained a GBX 4,000 price target, implying about 31% upside from the prior close.
• Other analysts remain mixed but constructive overall: Shell now has six Buy ratings and six Hold ratings, with a Moderate Buy consensus and an average target price of GBX 2,899.
• Recent news around Shell has been largely positive, including higher Q2 gas and LNG guidance and stronger-than-expected trading, though some reports warn that lower gas volumes in parts of the business could offset gains.

Shell (LON:SHEL - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Berenberg Bank in a research report issued on Thursday,Digital Look reports. They currently have a GBX 4,000 target price on the stock. Berenberg Bank's price objective indicates a potential upside of 31.17% from the stock's previous close.

Several other research firms have also weighed in on SHEL. HSBC raised Shell from a "hold" rating to a "buy" rating in a research report on Monday, May 18th. BNP Paribas Exane lowered shares of Shell from an "outperform" rating to a "neutral" rating in a research note on Friday, April 17th. The Goldman Sachs Group reiterated a "buy" rating on shares of Shell in a report on Friday, May 8th. UBS Group reiterated a "neutral" rating on shares of Shell in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Shell from GBX 3,900 to GBX 3,600 and set an "overweight" rating on the stock in a research report on Friday, July 3rd. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of GBX 2,899.

Shell Stock Down 0.5%

Shares of LON:SHEL opened at GBX 3,049.50 on Thursday. The business has a fifty day simple moving average of GBX 3,122.84 and a 200 day simple moving average of GBX 3,069.86. Shell has a 12-month low of GBX 2,553.77 and a 12-month high of GBX 3,758.50. The firm has a market cap of £169.01 billion, a P/E ratio of 9.50, a P/E/G ratio of 2.50 and a beta of 0.43. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 43.58.

Key Shell News

Here are the key news stories impacting Shell this week:

• Positive Sentiment: Shell raised its Q2 outlook for integrated gas production and LNG liquefaction volumes, suggesting stronger upstream and LNG performance than previously expected. Shell raises guidance slightly for Q2 integrated gas production
• Positive Sentiment: The company said integrated gas trading and optimization should be significantly higher than in the first quarter, which could lift near-term earnings expectations. Shell flags 'significantly higher' gas trading to offset lower oil and gas production
• Positive Sentiment: Analysts are expecting upward revisions after Shell’s stronger-than-expected Q2 trading update, reinforcing the bullish reaction in the shares. Shell rises after stronger-than-expected Q2 trading update; analysts expect upward revisions
• Neutral Sentiment: Shell also reported becoming Vietnam’s leading LNG supplier, a positive strategic development, though the immediate stock impact is likely limited compared with the guidance update. Shell becomes Vietnam’s leading LNG supplier
• Negative Sentiment: Some reports noted Shell expects gas volumes to fall sharply amid Middle East conflict and a retreat from South Africa, which could offset part of the optimism around trading and LNG. Shell boosted by trading - but expects gas volumes to fall sharply amid Middle East conflict

Shell Company Profile

Shell is a global group of energy and petrochemical companies. Shell's strategy is to deliver more value with less emissions as we work to become a net-zero emissions business by 2050. As we navigate the energy transition through the next decade, we will leverage our global footprint, the trust in our brand, and our innovation and technology capabilities to be the energy company that customers and countries choose to be their partner. We are positioning Shell to become the investment case and partner of choice through the energy transition.

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