Shell plc ($SHEL) Stock Forecast: Down 2.5% Today

What is Shell plc?

Shell (NYSE: SHEL) is a global energy company engaged in various segments including Integrated Gas, Upstream, Marketing, and Chemical & Products. Today, the stock had a strong bearish movement.

Why is Shell plc going down?

SHEL stock is down 2.5% on Aug 1, 2024 14:38

• Mixed Q2 results for Shell with revenue surpassing expectations, but profit and production decreasing sequentially.
• Despite initiating a $3.5 billion share buyback program and achieving profits that exceeded expectations, the stock witnessed a bearish movement.
• The drop in profit and production could be attributed to lower prices, reduced trading outcomes, and decreased volumes due to seasonality and reduced volatility.
• The market's negative response may be due to the earnings slowdown throughout the quarter, influenced by lower fossil fuel prices, refining margins, and an impairment resulting from specific plants.

SHEL Price Chart

SHEL Technical Analysis

SHEL News

Shell''s Mixed Bag: Q2 Revenue Beats Expectations, But Profit and Production Decline Sequentially

Shell plc (NYSE: SHEL ) shares are trading higher after it reported second-quarter FY24 results . Revenue of $74.46 billion beat the consensus of $61.33 billion. Total production at Integrated Gas fell 1% Q/Q to 980 kboe/d, and Upstream declined 5% Q/Q at 1,783 kboe/d. Meanwhile, sales volumes at Marketing rose to 2,868 thousand b/d from 2,763 thousand b/d the previous quarter, and Refinery processing intake at Chemical & Products remained broadly flat Q/Q at 1,429 kb/d. Related: Shell Absorbs Charges, Pauses Project: Q2 Outlook Dims With Impairments and Biofuels Halt Adjusted earnings decreased 19% Q/Q to $6.29 billion and Adj. EBITDA fell 10% Q/Q to $16.81 billion. This decline was due to reduced trading and optimization contributions from seasonality and realized prices (down $531 million), lower volumes (down $209 million), … Full story available on Benzinga.com

https://www.benzinga.com/news/earnings/24/08/40098587/shells-mixed-bag-q2-revenue-beats-expectations-but-profit-and-production-decline-sequentially

Shell Begins New Share Buyback as Earnings Beat Estimates

Shell (NYSE: SHEL) is launching yet another $3.5 billion share buyback program after booking better-than-expected earnings for the second quarter of the year. The UK-based supermajor reported on Thursday adjusted earnings of $6.3 billion, down from $7.7 billion for the first quarter of the year, on the back of lower prices and volumes and lower trading results due to seasonality and reduced volatility. The second-quarter result, however, easily beat the market expectation of earnings of $6 billion. Lower refining margins, driven by a stabilizing

https://oilprice.com/Latest-Energy-News/World-News/Shell-Begins-New-Share-Buyback-as-Earnings-Beat-Estimates.html

Shell posts £10.9bn profits after beating expectations in second quarter

The energy giant saw a slowdown in earnings over the three months to June after previously warning about lower fossil fuel prices, refining margins and an impairment hit linked to plants in Singapore and Rotterdam.

https://www.mirror.co.uk/money/shell-posts-109bn-profits-after-33372331

BUSINESS LIVE: BoE cuts base rate; Rolls-Royce shares soar to all-time high; Next profits set to near £1bn

Among the companies with reports and trading updates today are Shell, Barclays, Next, Rolls-Royce, BAE Systems and Wizz Air.

https://www.dailymail.co.uk/money/markets/article-13697767/BUSINESS-LIVE-BoE-cuts-base-rate-Rolls-Royce-shares-soar-time-high-profits-set-near-1bn.html?ito=1490&ns_campaign=1490&ns_mchannel=rss

Barclays bank posts sliding profits in first half

British banking group Barclays on Thursday logged a sliding first-half profit on a dip in revenue as it set aside more money for bad debts in the United States. It fared better than expected, however, owing to strong performance by its investment division, while it highlighted progress on slashing costs. READ ALSO:Shell’s net profit dips […] The post Barclays bank posts sliding profits in first half appeared first on The Guardian Nigeria News - Nigeria and World News .

https://guardian.ng/business-services/money/barclays-bank-posts-sliding-profits-in-first-half/

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Shell plc Price History

01.07.2024 - SHEL Stock was down 2.5%

• Mixed Q2 results for Shell with revenue surpassing expectations, but profit and production decreasing sequentially.
• Despite initiating a $3.5 billion share buyback program and achieving profits that exceeded expectations, the stock witnessed a bearish movement.
• The drop in profit and production could be attributed to lower prices, reduced trading outcomes, and decreased volumes due to seasonality and reduced volatility.
• The market's negative response may be due to the earnings slowdown throughout the quarter, influenced by lower fossil fuel prices, refining margins, and an impairment resulting from specific plants.