Royal Dutch Shell Plc : Shell ralentit son rachat d’actions dans un environnement difficile
>Résultats T4 2019 9%inférieurs aux attentes - Le RNpg ajusté au T4 ressort à 2.931 Md$, -38.5% QoQ/-48.5% YoY et 12%/8% inférieurs à nos attentes et au consensus marqué par un environnement particulièrement difficile à tous les niveaux et notamment pour le gaz naturel, les marges de raffinage et surtout la chimie. Le CFFO hors variation de BFR ressort à 47 Md$ en annuel en ligne avec nos estimations et le consensus ce qui rassure. IG sous pression, ups...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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