NEW YORK (TheStreet) -- Shares of Royal Dutch Shell (RDS.A) are up 2.93% to $82.83 in pre-market trade after the oil and gas company reported a 33% increase in quarterly earnings, beating analyst forecasts despite impairments of almost $2 billion after producing more liquids and selling at higher prices, Reuters reports.
Shell also raised its quarterly dividend and said the value of its share buybacks and dividends for 2014 and 2015 would exceed $30 billion.
The company's second quarter earnings on a current cost of supplies basis excluding one-time items were $6.1 billion, a 33% jump from a year ago. Analysts expected earnings of $5.46 billion.
TheStreet Ratings team rates ROYAL DUTCH SHELL PLC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ROYAL DUTCH SHELL PLC (RDS.A) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."