Shell's Solid Q3 Performance: Strong Revenue, $3.5 Billion Buyback, And Refined Capex Guidance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 31 2024
0mins
Source: Benzinga
Financial Performance: Shell plc reported third-quarter revenue of $71.09 billion, exceeding expectations, while net income rose to $4.29 billion. However, adjusted earnings decreased by 4% quarter-over-quarter due to lower refining margins and increased operating expenses.
Future Outlook: The company announced a $3.5 billion share buyback program and revised its cash capital expenditure guidance to below $22 billion. For the fourth quarter, Shell expects production levels and refinery utilization rates to remain steady, with corporate adjusted earnings projected as a net expense.
Analyst Views on SHEL
Wall Street analysts forecast SHEL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SHEL is 74.27 USD with a low forecast of 41.75 USD and a high forecast of 91.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
5 Buy
5 Hold
0 Sell
Moderate Buy
Current: 73.810
Low
41.75
Averages
74.27
High
91.00
Current: 73.810
Low
41.75
Averages
74.27
High
91.00
About SHEL
Shell plc is an international energy company engaged in the principal aspects of the energy and petrochemical industries. The Company's segments include Integrated Gas, Upstream, Marketing, Chemicals and Products, Renewables and Energy Solutions, and Corporate. The Integrated Gas segment includes liquefied natural gas (LNG), conversion of natural gas into gas-to-liquids (GTL) fuels and other products. It includes natural gas and liquids exploration and extraction, and the operation of the upstream and midstream infrastructure. The Upstream segment includes exploration and extraction of crude oil, natural gas and natural gas liquids. It also markets and transports oil and gas and operates the infrastructure necessary to deliver them to the market. The Marketing segment comprises the Mobility, Lubricants, and Sectors & Decarbonization businesses. The Chemicals and Products segment includes chemicals manufacturing plants with their own marketing network, and refineries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
