Report
Allen Good, CFA
EUR 101.80 For Business Accounts Only

Shell has set a course for improvement, but still needs some help from oil prices.

With second-quarter results, Shell notched its fourth consecutive quarter of strong cash flow generation and provided further evidence that its turnaround is well underway. Our fair value estimate and moat rating are unchanged, leaving Shell as the most undervalued integrated in our coverage. While concerns about the path of oil prices have probably weighed on shares, the last four quarters have demonstrated Shell’s repositioning to thrive in a lower-price oil environment. During that period, wh...
Underlying
Royal Dutch Shell PLC

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Allen Good, CFA

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