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Shell shares about to be revalued? Financial expert raises price target after share buyback and solid quarterly report
After a solid quarterly report the previous week, Berenberg raised its price target for the European oil giant. Is the stock about to be revalued? Coming soon Berenberg increases price target for Shell after solid quarterly report. Analyst believes in share buyback and stable dividend. Shell benefits from its strong position in the LNG market and gas division. As www.wallstreet-online.de reports, analyst Henry Tarr is pleased about the announced share buyback of $3.5 billion for the fourth quarter. Combined with the stable dividend of $0.331, the company plans to return around $23 billion to shareholders this year. Additionally, Tarr praises Shell’s strong…
Shell shares about to be revalued? Financial expert raises price target after share buyback and solid quarterly report
Shortly
- Berenberg erhöht Kursziel für Shell nach solidem Quartalsbericht.
- Analyst überzeugt von Aktienrückkauf und stabiler Dividende.
- Shell profitiert von starker Stellung im LNG-Markt und Gas-Sparte.
How www.wallstreet-online.de reports, analyst Henry Tarr is pleased with the announced $3.5 billion share buyback for the fourth quarter. Combined with the stable dividend of $0.331, the company plans to return around $23 billion to shareholders this year.
Additionally, Tarr praises Shell's strong position in the global liquefied natural gas (LNG) market, which is expected to remain tight in the coming years. Projects in Canada, Qatar and Nigeria promise future growth, while the business areas in Brazil and Namibia offer long-term opportunities.
Particularly noteworthy for Tarr is Shell's gas division, which is considered the company's largest cash flow driver. Tarr explains that oil price-linked term contracts continue to be the key driver for the division and the division is able to optimize profitability in most market environments.
The analyst even believes in a possible revaluation of the share and increases his price target to 3000 pence or 35 euros. Shell shares are currently trading just below the 31 euro mark. Tarr sees further upside potential from planned operating cost savings of $2 billion to $3 billion.
The increase in share buybacks shows Shell's management is focused on strengthening its balance sheet and returning cash to shareholders, while gradually investing more in the energy transition, according to Tarr. According to Julian Schick from thewallstreetONLINECentral editorial team, Shell shares are currently trading at a loss of -1.00% and a price of EUR 30.83.
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Author: Julian Schick,wallstreetONLINECentral editorial office
Read the source article at www.wallstreet-online.de