Shell CEO Warns Chemicals Weakness May Persist
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Second Quarter Performance: Shell Plc reported adjusted earnings of $4.3 billion for Q2, exceeding profit expectations with earnings per share at $1.44, despite revenue falling short at $65.41 billion. The company also announced a $3.5 billion share buyback and declared a dividend of $0.3580 per share.
Future Outlook: The CFO anticipates an increase in crude oil trading activity later this year, while the CEO warned of ongoing weakness in chemicals markets. Shell expects production levels to remain stable, with capital expenditures projected between $20 billion and $22 billion for the full year.
Analyst Views on IEO
Wall Street analysts forecast IEO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IEO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
