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"I've doubled up during the current drop but, bearing in mind my net cost per share over two years remains well below £10"
if youve doubled up at roughly 2000p, how have you managed to keep your avg below 1000p please?
if the low was say 800, and today roughly 2000, average would be 1400?
I utterly agree with Notmyjob and Getafgrip's post . Shel of recent times have played a smarter Press and PR job than BP - better value / lower risk in my view. I've doubled up during the current drop but, bearing in mind my net cost per share over two years remains well below £10, I'm not going to worry about dips. Q3 results should, IMV, see upward pressure. GS analysts have been at the wacky baccy, I think, but £25-£27 is a realistic and low-risk prospect and one which the company can demonstrate is not at 'record levels' and, rather than a windfall for investors (who've had the dividend slashed) merely represents a recovery to 2018 levels.
It is worth looking at this Update Note from a different perspective. Not looking at what is not included, but at what is included. The figures are subject to finalisation of the 2nd Quarter 2022 results to be published on July 28, 2022. An immense company like Shell has produced this update on only the 5th trading day following the end of the half year to which the figures apply.
So for now the figures are released largely in indicative ranges. Notmyjob is right in that many of the figures are politically sensitive and great care will be taken over what is released and when. But there is great news there - the reversal of impairments adds straight to the capital value of the company. A major boost for the buybacks, as fewer shareholders will own more of a more valuable company - something of a masterstroke albeit a predictable one.
Refining margins tripling is great, but contentious news, and Biden is already making this clear. He wants refining volumes up and margins down & has gathered the heads of the oil-majors to make this clear to them. He wants volumes up due to the lost refining capacity that Russia has provided being lost - this is a major issue that is not currently being discussed much publicly.
Pernix - I'm not sure where this update details "promises of Dividend hikes & more share buybacks." It only states "The share buyback programme of $8.5 billion announced for the first half of 2022 was completed on July 05, 2022." Perhaps you are confusing this Update Note with the 1st quarter Results Announcement on May 5th 2022. " Who knows"as you said a couple of weeks ago with reference to whether a recession was in the offing.
Trading updates take may take a couple days for investors to respond. All I was saying is that the Shell trading update was not so clear. There were big positives, negatives like production levels down due to maintenance issues. However Shell has huge cash generation & there were promises of Dividend hikes & more share buybacks.
Today after the Shell update:
Goldman Sachs raises Shell price target to 42 (39) EUR - ”Buy”
pernix, SHEL not rising much 7/7 probably due to investors/traders not perceiving how really good a share SHEL is. Low Carbon deals made recently Qatar and others, etc...GS has increased target sp to EUR42 today, c GBP35 !!! What's not to like !!
I wouldn’t be surprised given the recent bashing of oil companies and their profits that today’s trading update was deliberately opaque and low key.
Big numbers to be released at the end of the month when MP’s are on their expensive exotic holidays and the left wing media hacks are sunning themselves somewhere.
Jim800: I trade shares. Try to get in on aweful days. So I tell it how it is. I do not reveal everything I do as that’s for me to know. I missed today’s up share action. If Shell’s results were so well received, then why is BP up 5.5% & Shell up only 3%. The impairment issue is a plus but the whole FTSE100 is up on Boris resigning & Brent going up a bit. I’m not sure it is down to Shell’s trading update today.
Pernix - your previous posts claimed you sold on 28 June and smugly bought back in on 29 June - how come you're now in cash or do you only post profitable trades in hindsight (or imaginary ones)?
If you're going to post lots to look clever then reads your old posts first!
In terms of RNS, GAFG is correct, detailing impairments this quarter deflects from profits and removes spotlight / WFT interest - those who understand appreciate this hence the rise in SP today.
Should say "Billion."
The overdue $3.5 to $4.5 reversal on impaired assets looks to have been clearly understood and gone down well with fund managers etc.
Shell update today not great. Like can’t see full picture. Shares likely to drift lower until July I think. I’m in cash & was going to buy. Not now. These oil companies are paying whopping total taxes I see.