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Royal Dutch Shell Reports $7.5 Billion First-Quarter Profit

LONDON -- The shares of Royal Dutch Shell  (LSE: RDSB  ) (NYSE: RDS-B  ) advanced 21 pence to 2,280 pence during early London trade this morning after the FTSE 100 member issued its first-quarter results and revealed its chief executive is to retire.

Shell said its underlying earnings had advanced 3% to $7.5 billion during January, February and March. 

In addition, the group confirmed its production during the quarter was 3.6 million barrels of oil a day, an increase of 2% on the same period of 2012.

Shell also claimed its gearing was 9.1% and its return on average capital employed was 13% at the end of March.

As previously announced, Shell lifted its quarterly dividend by 4.7% to $0.45 per share.

Peter Voser, Shell's chief executive, said: "Our industry continues to see significant energy price volatility as a result of economic and political developments. Oil prices have fallen recently but Shell is implementing a long-term, competitive and innovative strategy against this volatile backdrop."

Voser added that he would retire from the company during the first half of next year.

Shell's chairman, Jorma Ollila, said: "Peter's leadership of Shell over the last four years has been impressive, reorganizing the company, delivering growth, and developing a clear forward strategy with a strong portfolio of new options."

Annualizing today's quarterly figures gives potential earnings approaching £3 a share and a possible dividend of around 116 pence per share. Those projections equate to a P/E of less than eight and yield of more than 5%.

Of course, whether those ratings, today's results, Voser's retirement and the general outlook for multinational oil companies all combine to make Shell a buy right now is something only you can decide.

But if you already own Shell shares and are looking for alternative buying opportunities, this exclusive wealth report reviews five particularly attractive possibilities.

Indeed, all five opportunities offer a rich mix of robust prospects, illustrious histories and dependable growth rates, and have just been declared by the Fool as "5 Shares You Can Retire On"!

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Related Tickers

9/26/2016 12:04 PM
RDSB $1930.09 Up +5.09 +0.26%
Royal Dutch Shell… CAPS Rating: No stars
RDS-B $50.45 Down -0.62 -1.21%
Royal Dutch Shell… CAPS Rating: ****