1021 GMT - Shell will be one of the only integrated oil companies able to cover its investments and shareholder distributions organically in 2025, Jefferies analysts write in research note. Some analysts have warned that the sector's current levels of capital expenditure and shareholder returns are unsustainable. Shell's balance sheet means it is likely to be the best capital allocator over the next 12 months, they write. Investors will also prefer companies that can cover capital-allocation needs without taking on debt via divestments, they write. Eni and BP are well placed due to well-defined deleveraging programs, the analysts say. Shell trades down 0.4% at 24.90 pounds, BP is down 1% at 3.92 pounds while Eni shares are down 0.2% at 13.27 euros. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
December 16, 2024 05:21 ET (10:21 GMT)
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