Shell's Sale Removes Cloud Weighing on Canadian Natural Shares

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Now fund managers who shied away from the stock even as the company posted strong earnings may sell some of their other oil-sands holdings to pick up the newly available Canadian Natural shares, according to GMP FirstEnergy analyst Michael Dunn. Therefore 67% are positive. Barclays reiterated an overweight rating and issued a GBX 3,000 ($40.69) price target on shares of Royal Dutch Shell in a research note on Wednesday, January 3rd. The stock now has a consensus rating of Buy and an average target price of C$53.50. Royal Dutch Shell has a 52 week low of GBX 2,037 ($27.63) and a 52 week high of GBX 2,617 ($35.50). The company was maintained on Monday, May 7 by Goldman Sachs. The firm earned "Overweight" rating on Friday, November 24 by Barclays Capital. UBS set a GBX 2,675 ($36.29) price target on Royal Dutch Shell and gave the company a buy rating in a report on Monday, April 23rd. Barclays Capital has "Overweight" rating and GBX 3000 target. On Monday, February 26 the firm has "Outperform" rating given by Credit Suisse. Deutsche Bank maintained it with "Buy" rating and GBX 2700 target in Wednesday, November 29 report. As per Friday, November 10, the company rating was maintained by Barclays Capital. HSBC maintained the stock with "Hold" rating in Tuesday, April 17 report. In Toronto, the stock fell as much as 3.7 percent to C$43.58, and traded at C$43.91 as of 12:38 p.m. On Tuesday, February 13 Morgan Stanley maintained Royal Dutch Shell plc (LON:RDSA) rating. It has underperformed by 11.55% the S&P500.

The deal, which is part of Shell's broader divestment plan, follows a similar move past year in which it give up direct ownership of interests in Canadian oil sands assets in a transaction worth $7.25bn.

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Yet this is not enough for some of its shareholders: a group of institutional Shell investors with assets under management totaling over US$30 billion (28 billion pounds) earlier this month pressed the company to implement stricter carbon emission limitation targets, in line with the Paris Agreement on Climate Change. The tight pipeline situation sent Canadian crude's discount to the USA benchmark to the widest in four years in February, prompting Canadian Natural to restrain first-quarter oil production by about 17,000 barrels a day.