Royal Dutch Shell Share Price Forecast July 2021 – Time to Buy RDSB?

Shares of energy minerals production company Royal Dutch Shell (LSE: RDSB) are in the green today as the price has been going up since last week. Investors are wondering if it is a good time now to invest in RDSB shares.

Royal Dutch Shell – Technical Analysis

According to the financial statement revealed by Royal Dutch Shell, the company has a market cap of £108.668B while the total assets are worth £279.336B. The revenue of the company was £132.55B in 2020 compared to £266.54B in 2019. The market was closed on July 28 at £1384 with an uptrend of 0.38%.

You can get more insight from the technical information of RDSB. Moving Averages like Exponential Moving Average (10)(1369.7), Simple Moving Average (10)(1355.1), Hull Moving Average (9)(1382.6), and Simple Moving Average (50)(1373.0) are pointing towards a buy action. On the other side, Oscillators such as Momentum (10)(-25.0) and Bull Bear Power (12.3) are pointing towards buying, while Stochastic RSI Fast (3, 3, 14, 14)(69.4) and Williams Percent Range (14)(-41.4) are being neutral.

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Recent Developments

Founded in February 1907 in The Hague, Netherlands, Royal Dutch Shell produces oil and natural gas. The company operates through five segments: Integrated Gas, Oil Products, Upstream, Corporate, and Chemicals. The Integrated Gas Segment takes care of liquefied natural gas activities and converts natural gas to liquid fuels and other products. The Oil products segment refines and trades the oil and manages the marketing classes of business. The Upstream segment explores crude oil and extracts it. The Corporate segment comprises self-insurance activities, holding and treasury, and headquarters and central functions of Royal Dutch Shell. The Chemicals segment operates the marketing network and manufacturing plants.

On July 26, 2021, Royal Dutch Shell announced its plans to develop a new oilfield in Mexico. The company owns 60% of the project while Chevron owns 40%. The whale development is expected to produce around 100,000 barrels of oil per day, according to the statement released by Royal Dutch Shell. The Whale was discovered in 2017 and it holds a huge resource of 490 million barrels of oil. The production is scheduled to begin in 2024.

The company stated on July 28, 2021, that it would buy Inspire Energy Capital LLC which is a renewable energy retailer. The purchase is to expand Royal Dutch Shell’s renewable power business in the US. According to the contract, the company would have an advanced strategy to build and scale low-carbon and renewable businesses with a goal of becoming a net-zero emissions energy business before 2050. Like other companies producing oil, Royal Dutch Shell is also under investor pressure to slash greenhouse gas emissions and the company plans to increase its expenditure on low carbon and renewables technologies to up to 25% of the overall budget before 2025. The deal is expected to close by the fourth quarter of 2021.

Should You Buy RDSB Shares?

It is important to observe the price movement of a share and be aware of risk and reward points before purchasing it. According to the RDSB share chart, the share price of Royal Dutch Shell jumped up in October 2020 and reached its highest high in March 2021. After that, the price fell slightly but it is now soaring up again. Moreover, technical indicators are giving buy signals. All Moving Averages are pointing towards buying, as well as some Oscillators, while a few Oscillators are neutral. Overall, it looks like this is the right time to purchase RDSB shares to have higher returns in future.

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