NEW YORK (TheStreet) -- Shares of Royal Dutch Shell (RDS.A) are up 0.86% to $79.69 after the company sold two gas assets in Wyoming and Louisianan for $2.1 billion, plus additional shale acreage in Pennsylvania.
Shell CEO Ben Van Beurden, who took over from Peter Voser at the start of the year, is accelerating asset disposals to win investor support, according to Bloomberg.
He returned Shell’s operations to profit in the Americas this year, where the company has about $61 billion deployed in onshore tight and shale gas and oil projects, Bloomberg reports.
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 some important positives, 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 solid stock price performance, increase in net income, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: