Shell: Strong Q1 Blows Estimates Out Of The Water

Carl Court I initiated my coverage of British oil & gas supermajor Shell plc (NYSE:SHEL) in late March with an Overweight rating that was based on three key factors: 1) leading scale and expertise in LNG, 2) a best-in-class trading division, allowing the company to profit off price volatility and 3) a credible new strategy focused on delivering attractive shareholder returns and cost savings. Q1 earnings, released on May 2, reinforced much of this thesis as early benefits of initiated structural cost measur ...