Stock price when the opinion was issued
Top pick in the energy space.
Integrated oil producer throughout the world.
Long term energy demand strong.
Limited supply & investment in oil output will keep prices high.
Expecting a $80 oil price going forward due to Saudi Arabia budget demands.
High free cash flow and dividend yield (~3.9%).
Likes the energy space. Shell is cheap compared to its peers. Boasts a 12% free cash flow yield.