Shell's Juicy 15% Yield Stands Out Among Majors

Oil prices will remain low in the near term, but it seems likely that they will recover to pre-crisis levels in the long run.
Shell has shown that it remain highly cash flow positive even in a low oil price environment.
Shell can maintain its dividend at the current level through this crisis.
Article Thesis
Royal Dutch Shell (RDS-A) (RDS-B), one of the biggest oil and gas producers in the world, has seen its share price slump so much that its dividend now yields more than 15%. The company will, like its peers, suffer from the lower oil price, but the long-term outlook is not bad at all, and diversification across business lines makes the company less vulnerable than many other players in the industry.
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The Price Of Oil Slumps - Why This Will Not Last Forever
Shell's share price, along with share prices of peers such as Chevron (CVX), Exxon Mobil (XOM), BP (BP), and Total (TOT), has dropped like a rock over the last couple of weeks:
Data by YCharts
Over the last month, Shell's share price dropped by 52%, with its peers' share prices all losing at least 42% during that time frame as well. Over the last year, share price declines are even more pronounced, as each of the supermajors' shares lost at least 55%, while Shell is down 60% during that time frame.
The recent drop was mostly caused by a sharp drop in oil prices, which hit a new 18-year low a couple of days ago. The sharp decline in oil prices was caused by a double whammy of lower consumption, due to the impact that the coronavirus has on the economy, and due to higher production volumes. Experts are forecasting a drop of up to 10 million barrels a day in global oil consumption over the next couple of weeks, which equates to roughly 10% of global demand. At the same time, both Russia and Saudi Arabia have started to ramp up production in order to increase their market share, following the failure to agree on production cuts at the most recent OPEC+... Read more