2024-07-10 10:58:22 ET
Summary
- Shell has outperformed the US Select Sector SPDR Energy ETF so far this year, benefiting from rising global oil prices.
- Shell reported strong Q1 results, with non-GAAP EPS beating estimates, as it continues to repurchase stock.
- With continued growth in earnings, dividends, and free cash flow, along with an impressive technical trend, I see further upside this year.
- I highlight key price levels to watch ahead of earnings next month and note what the options market says.
Shell Plc ( SHEL ) has outperformed the US Select Sector SPDR Energy ETF ( XLE ) so far this year. While a 13% total return pales in comparison to gains among the Magnificent Seven stocks, the rise in global oil prices has been a general tailwind for large integrated oil and gas firms. ...
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For further details see:
Shell: Single-Digit P/E With Share-Price Momentum, A FCF Stalwart