Royal Dutch Shell Plc : FCF guidance and share buybacks at risk in 2020 – target price cut
>Q3 2019 results beat our expectations by 11% and those of the consensus by 22% - Q3 2019 CCS earnings came to $ 4.767bn, +38% q-o-q/-15% y-o-y and respectively 11%/22% better than our expectations and those of the consensus, with a particularly tough environment for natural gas, oil and refining margins and chemicals partially offset by a strong trading and marketing contribution. CFFO excluding the change in WCR came in at $ 12.1bn vs $ 10.41bn in Q2, i.e. an annua...Royal Dutch Shell is a holding company. Through its subsidiaries, Co. is engaged in the oil and gas industry. Co. reports its business through four segments: Integrated Gas, which engaged in the liquefaction and transportation of gas and the conversion of natural gas to liquids to provide fuels and other products; Upstream, which engaged in the exploration for and extraction of crude oil, natural gas and natural gas liquids; Downstream, which engaged in oil products and chemicals manufacturing and marketing activities; and Corporate, which comprising Co.'s holdings and treasury organisation, its self-insurance activities and its headquarters and central functions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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