Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure necessary to deliver gas to market. The company also markets and trades natural gas, liquefied natural gas (LNG), crude oil, electricity, carbon-emission rights; and markets and sells LNG as a fuel for heavy-duty vehicles. In addition, it trades in and refines crude oil and other feed stocks, such as low-carbon fuels, lubricants, bitumen, sulphur, gasoline, diesel, aviation fuel, and marine fuel; produces and sells petrochemicals for industrial use; and manages oil sands activities. Further, the company produces base chemicals comprising ethylene, propylene, and aromatics, as well as intermediate chemicals, such as styrene monomer, propylene oxide, solvents, detergent alcohols, ethylene oxide, and ethylene glycol. Additionally, it generates electricity through wind and solar resources; produces and sells hydrogen; and provides electric vehicle charging services. The company was formerly known as Royal Dutch Shell plc and changed its name to Shell plc in January 2022. Shell plc was founded in 1907 and is headquartered in London, the United Kingdom.

Shell appears to be a large and financially sound business, but its valuation no longer looks clearly cheap in light of its profitability quality. A P/E ratio at the industry median does not provide a strong signal of undervaluation, and P/FCF is also close to normal, which limits re-rating potential. At the same time, P/S and P/B are below the industry median, supporting the case for a moderate discount to the sector, especially given the scale of its revenue and capital base. The company’s key strength is its low leverage: debt/equity of 0.38 is below the industry level, and both the current and quick ratios are around comfortable levels. However, the quality of returns on capital remains weaker than the sector: ROE, ROA, ROI, and return on tangible equity are below the median, indicating less efficient use of assets and capital. Margins are also noticeably below the industry: gross margin, operating margin, and net profit margin are lower, although a gradual improvement is visible year by year, which softens the negative. This means the business is stable and improving operational efficiency, but it still does not demonstrate the premium quality that would usually justify a higher multiple. Revenue, EBITDA, operating profit, and net income look strong in absolute terms and generally support the investment case. Equity remains very large, and assets and liabilities do not show signs of balance sheet deterioration. Dividend yield has declined compared with last year, so the dividend factor is currently less supportive than before. Overall, the fundamentals are rather neutral with a slight cautious tilt: the balance sheet and valuation help, but weak relative profitability and margins limit the upside. For an investor, this is more a story of a high-quality large energy asset with moderate undervaluation in terms of revenue and balance sheet, but without a strong signal to aggressively raise the target valuation.

Shell PLC

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Слабый индекс, незначительно вырос. Рынок на стороне быков.

Weak index, slightly up. The market is on the bulls' side.

Слабый индекс, незначительно упал

Shell appears financially stable and inexpensive on P/S and P/B, but weak profitability and margins relative to the industry limit revaluation potential.

Chevron Corporation CVX is slated to release second-quarter 2026 results on July 31, before market open.
The Zacks Consensus Estimate for revenues is pegged at $57.5 billion, implying an increase of 28.4% from the year-ago quarter. The consensus earnings mark of $5.81 per share has been revised upward by 1.8% over the past seven days, suggesting a 228.3% jump from the year-ago reported number.
For full-year 2026, the Zacks Consensus Estimate for CVX’s revenues is pegged at $215.9 billion, implying an improvement of 14.2% year over year. The consensus mark for 2026 earnings per share stands at $15.60, indicating a surge of 114%.
CVX's Earnings Surprise History
In the last reported quarter, the company delivered an earnings surprise of 53.3%. Chevron’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 18.6%.
Chevron Corporation Price and EPS Surprise
Q2 Earnings Whispers for Chevron
The proven Zacks model does not conclusively show that Chevron is likely to beat estimates in the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: CVX has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $5.81 per share each.
Zacks Rank: Chevron currently carries a Zacks Rank of 3, which increases the predictive power of ESP. However, the company’s 0.00% ESP makes surprise prediction difficult this earnings season.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Shaping CVX’s Upcoming Q2 Results
Chevron's exploration and production business likely benefited from another quarter of solid production growth, supported by continued ramp-up across major assets. Management reaffirmed full-year 2026 production guidance of 3.98-4.10 million barrels of oil-equivalent per day (BOE/d), while highlighting that second-quarter production was expected to exceed the first quarter despite planned maintenance. Operations at TCO were running above 1 million BOE/d day, Gorgon and Wheatstone LNG were operating at full rates, and Permian production remained above 1 million BOE/d. These factors, combined with stronger oil and gas prices, could have lifted upstream earnings even after accounting for an estimated 100,000-150,000 BOE per day turnaround impact. Consequently, the Zacks Consensus Estimate for the second-quarter upstream segment is currently pegged at a profit of $8.3 billion compared to the year-ago income of $2.7 billion.
Chevron's downstream business likely received support from improved refining margins and higher utilization across its global refining network. Management indicated that U.S. refineries achieved record crude throughput, while Asia refinery utilization was expected to remain around 80% during the second quarter. The company also emphasized growing integration benefits by directing more equity crude into its refining system, helping capture additional value across the supply chain. Historical trends further suggest that downstream earnings have frequently exceeded expectations, with the segment posting positive earnings surprises in several recent quarters, including 36.5% in first-quarter 2026 and 16.7% in second-quarter 2025. According to the Zacks Consensus Estimate, downstream income is expected to jump to some $4 billion from just $737 million in second-quarter 2025.
But on a somewhat bearish note, Chevron's second-quarter earnings could have faced pressure from elevated investment spending alongside softer downstream sales volumes. The Zacks Consensus Estimate for second-quarter 2026 capital expenditures is pegged at about $4.7 billion, well above the $3.7 billion reported in the year-ago quarter. At the same time, consensus mark for worldwide refined product sales of roughly 2.7 million barrels per day is slightly below the second-quarter 2025 levels.
Updates From Chevron’s Global Peers: ExxonMobil and Shell
Rival ExxonMobil Holdings XOM heads into its second-quarter earnings with stronger oil prices expected to have been the biggest driver of results. ExxonMobil estimates that higher liquids prices alone could have lifted earnings by about $3.5-$3.9 billion from the prior quarter. ExxonMobil also expects better refining, chemicals and specialty product margins to have provided an additional boost. These positives are likely to have outweighed production disruptions linked to the Middle East conflict, although management has cautioned that operational shutdowns and supply interruptions will have partly offset the benefits.
Meanwhile, European oil major Shell plc SHEL has outlined a mixed but improving outlook. Shell expects lower gas production because of disruptions in Qatar linked to the Middle East conflict, but stronger gas trading should help offset much of that weakness. Shell is also benefiting from improved refining and chemicals margins, refinery utilization near full capacity and a recovery in working capital, all of which should support cash flow. While geopolitical risks remain, the company's diversified operations provide several earnings drivers beyond production volumes.
CVX Price Performance & Stock Valuation
Shares of Chevron have gone up 11% in the past six-month period compared with the broader Zacks Energy sector’s growth of 11.7%. Shares of XOM have gained 10.1%, while SHEL stock has gone up 11.5%.
6-Month Price Performance
Image Source: Zacks Investment Research
From a valuation perspective — in terms of forward price-to-earnings ratio — Chevron is trading at a premium compared to the industry average. The stock is also trading above its five-year mean of 11.81.
Image Source: Zacks Investment Research
How Should You Play CVX Pre-Q2 Earnings?
Chevron enters its second-quarter earnings release with solid operating momentum and a generally balanced outlook. Higher production from the Permian Basin, Tengiz and LNG assets, together with stronger commodity prices and improved refining margins, should support a substantial year-over-year earnings increase. The company’s cost-reduction initiatives and consistent shareholder distributions further strengthen its investment case. The Microsoft power agreement also creates a potential long-term growth avenue tied to rising data-center electricity demand. However, elevated capital spending and slightly weaker refined-product sales volumes could limit near-term upside. Overall, Chevron’s strengths and risks appear evenly balanced ahead of the results.
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Pre-Q2 Earnings: Is Chevron Stock a Buy, Hold, or Sell?

For Immediate Release
Chicago, IL – July 28, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple AAPL, Microsoft MSFT, Amazon AMZN, LVMH LVMUY, AstraZeneca AZN, Shell SHEL, Airbus EADSY and UBS UBS.
Here are highlights from Monday’s Analyst Blog:
The Fed & Earnings Reports Galore: Global Week Ahead
What happens across this Global Week Ahead?
It's all about central banks this week: interest rate-setters as distant as Tokyo, Washington and London will only grow more nervous
As war escalation in the Middle East puts oil prices back to $100
As if that's not enough, U.S. tariffs are also back on the worry list for markets fretting about war-driven inflation and growth risks.
Next are Reuters’ five world market themes, re-ordered for equity traders--
(1) The U.S. Fed Meets This Week. Plus, There Are Major EPS Reports Out
A U.S. Federal Reserve meeting and a slew of corporate earnings reports headlined by technology giants are setting U.S. markets up for a busy week.
The Fed is widely expected to hold rates steady on Wednesday in its second meeting under new Chair Kevin Warsh.
Warsh has shunned offering guidance but vowed to bring the inflation rate down to target, so uncertainty remains high as interest rate rises might be in order at some point.
Recent consumer and producer price data that were cooler than market participants expected helped calm rate-hike bets, but a resurgence in oil prices means traders are raising their bets again.
Meanwhile, earnings reports from Apple, Microsoft and Amazon are due as investors count on a strong quarter for U.S. corporate profits and focus on AI spending trends.
Expect more scrutiny after hyperscaler Alphabet's shares tanked as it faced investor questions about its cash flow and higher capital spending plans this week.
(2) A Deluge of Corporate Earnings Come from Europe’s Major Corporations
It's Europe's busiest week of this earnings season with 40% of STOXX 600 market cap reporting, according to Barclays.
The line-up includes LVMH, AstraZeneca, Shell, Airbus and UBS.
Second-quarter profit in Europe is set to increase by 17.3% when combining the results of companies that have already reported with estimates for those pending.
That would mark the fastest growth rate since the fourth quarter of 2022. But that's driven mostly by energy, given surging oil prices. Exclude them and LSEG I/B/E/S expects a more modest 7.2%.
Flash Eurozone inflation and growth readings, meanwhile, could go some way to deciding whether the ECB will raise interest rates again this year, after it left policy unchanged on Thursday following June's hike.
(3) The Strait of Hormuz and the Bab el-Mandeb Strait (Red Sea) Are Closed
How much oil and gas is coming out of the Middle East is the most important near-term question, and investors now have two energy shipping chokepoints to watch.
Houthi attacks could make off-limits the Bab el-Mandeb strait, which links the Indian Ocean to the Red Sea and eventually the already-squeezed Strait of Hormuz.
That prospect sent Brent crude through $100 a barrel on Thursday for the first time since May. European gas prices just touched their highest levels since March.
A U.S.-Iran peace deal looks elusive, but news about the Gulf isn't the only thing investors will be looking for when they refresh Truth Social. The U.S. on Friday imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union and China, adding to market uncertainty.
(4) On Thursday, the Bank of England (BoE) Meets
The Bank of England has, unlike the European Central Bank or Bank of Japan, so far resisted the urge from some policymakers to hike rates in the face of oil-driven price pressure.
It's widely expected to do so again on Thursday.
Markets anticipate at least one interest rate increase this year as the rate of inflation picks up again, but signs of job market weakness indicate the BoE could adopt a more dovish tone.
Rate-setters meet just days after Prime Minister Andy Burnham entered Downing Street promising to reshape Britain.
In the post-policy-meeting briefing, BoE chief Andrew Bailey is likely to be pressed on his thoughts on what Burnham's agenda means for monetary policy.
Economists estimate an early decision to cut tax on electricity would slow inflation by 0.1 percentage points.
New finance minister John Healey, meanwhile, will also be scrutinized as watchful bond markets assess whether he will be friend or foe.
(5) On Friday, the Bank of Japan (BoJ) Meets
The Bank of Japan meets on Friday, with much riding on policymakers to deliver a hawkish message that could haul the yen away from a four-decade low against the U.S. dollar.
A well-telegraphed rate hike last month, $73 billion worth of currency intervention nor hope of money ‌returning home have done much to lift the yen, which recently weakened beyond 163 per dollar for the first time since 1986.
Sources told Reuters that some in the BOJ see scope to raise rates at a faster pace than the dominant market view of twice a year if price pressure from a weak yen and rising energy costs persist.
Ahead of Friday's policy decision, Tokyo's July inflation figures are also due, though market participants don't expect the data to alter the BOJ outcome.
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Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Zacks Analyst Blog Highlights Apple, Microsoft, Amazon, LVMH, AstraZeneca, Shell, Airbus and UBS

(RTTNews) - Shell plc (SHEL) on Monday said it has agreed to sell Sprng Energy to Aditya Birla Renewables Ltd. for $1.8 billion, as the energy giant continues to streamline its portfolio.
Under the agreement, Shell's wholly owned subsidiary, Shell Overseas Investment B.V., will sell its entire stake in Solenergi Power Private Ltd., including the Sprng Energy group of companies.
Sprng Energy operates a renewable energy portfolio of 5.0 gigawatts-peak (GWp) in India, comprising 3.3 GWp of operating assets and 1.7 GWp under contract, supplying solar and wind power to electricity distribution companies.
Shell said the divestment aligns with its strategy to recycle capital and focus on an asset-backed trading approach in its power business, while targeting improved returns through 2030.
The transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Shell To Sell Sprng Energy To Aditya Birla Renewables For $1.8 Bln

Key Points
Recent research from Vanguard suggests that international stocks in developed markets could outperform U.S. stocks in the next 10 years.
The Vanguard International High Dividend Yield ETF holds more than 1,500 stocks and has delivered 10 years of 10.8% annualized returns.
The Vanguard International Dividend Appreciation ETF offers a more narrowly targeted portfolio that might be betting too heavily on just a few other countries.
Is America still the best place in the world for Americans to invest? Recent research from Vanguard suggests that international stocks might offer stronger opportunities in the next few years.
The company's 2026 economic and market outlook said that "ex-U.S. equities" -- international stocks not including the U.S. -- are expected to deliver 4.9% to 6.9% average annual returns for the next 10 years, while U.S. stocks are expected to deliver only 4% to 5% returns. Another Vanguard report in June predicted that some of the best long-term gains from the artificial intelligence (AI) boom might go not to AI stocks, but to "developed markets outside the U.S." as global companies use AI to improve their operations.
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Although Vanguard's research doesn't recommend any specific stocks or exchange-traded funds (ETFs), if you agree with this forecast, buying international dividend stocks could be a good strategy. That's because international stocks that pay high dividend yields tend to come from developed markets such as Japan, Canada, and Western Europe.
The Vanguard International High Dividend Yield ETF (NASDAQ: VYMI) and the Vanguard International Dividend Appreciation ETF (NASDAQ: VIGI) are two Vanguard ETFs that offer exposure to international dividend stocks. Both hold portfolios that include the types of stocks that Vanguard research says might outperform in the next few years.
But in the past 10 years, the Vanguard International High Dividend Yield ETF has delivered a total return of 188.1%, strongly outperforming the other fund:
Let's look at these two Vanguard international ETFs and see which could be a better choice for your investment dollars.
Vanguard International High Dividend Yield ETF (VYMI): 1,578 stocks, 10 years of 11.2% annualized returns
The Vanguard International High Dividend Yield ETF has had a strong recent run of performance. At recent prices, it has delivered a total return of 24% in the past year, which has outperformed the S&P 500 index.
Over a longer-term time horizon, the fund's past performance is less strong, but still solid. This international ETF has delivered annualized total returns (by net asset value) of 22% for the past three years, 12.9% for the past five years, and 11.2% for the past 10 years. It charges a low expense ratio of 0.07%.
Could this fund be a good choice for the future? It holds a diversified portfolio of 1,578 global stocks. If you want developed market stocks, this fund can provide that exposure. Its portfolio consists of 43.7% European stocks, 23.8% Pacific region stocks, and only 22.8% emerging markets.
This ETF's top five countries included in the portfolio are Japan (11.5% of the fund), the United Kingdom (11%), Canada (8.9%), Switzerland (7.5%), and Australia (7.3%). The fund's top 10 stock holdings include international banks such as HSBC Holdings (NYSE: HSBC), pharmaceutical giants such as Roche Holding (OTC: RHHBY), energy major Shell (NYSE: SHEL), and Australian mining company BHP Group (NYSE: BHP).
If you're concerned that U.S. tech stocks have gotten overheated, this fund can put your money to work in different parts of the global economy. Companies like these tend to be well-established and financially strong, which enables them to return lots of cash to shareholders. This dividend ETF has delivered a trailing-12-month dividend yield of 3.68%, which is higher than many of the best dividend index funds. And this fund has a price-to-earnings (P/E) ratio of 14.02, which makes it look much cheaper than the S&P 500 index earnings multiple of 25.37.
Vanguard International Dividend Appreciation ETF (VIGI): 343 stocks, 10 years of 7.98% annualized returns
Another way to invest in international dividend stocks is to use the Vanguard International Dividend Appreciation ETF. This fund uses a different approach. Instead of more than 1,500 stocks, its portfolio holds only 343 stocks. This fund is even more focused on developed markets, with only 5.1% of its assets invested in emerging-market stocks. It charges the same low 0.07% expense ratio as the other Vanguard fund.
The Vanguard International Dividend Appreciation ETF has some of the same names as VYMI in its top 10 stock holdings. It owns international banks such as Royal Bank of Canada (NYSE: RY) and Mitsubishi UFJ Financial Group (NYSE: MUFG), pharma stocks such as Roche Holding and Novartis (NYSE: NVS), and German tech and industrial companies SAP (NYSE: SAP) and Schneider Electric (OTC: SBGSY).
However, this fund has not performed as well as the other Vanguard international ETF. The Vanguard International Dividend Appreciation ETF has delivered average annual returns of 8% in the past year, 10.8% in the past three years, 4.6% in the past five years, and 7.98% in the past 10 years. It has underperformed the S&P 500 in all those time frames.
This dividend ETF is also lagging the other fund's dividend yield, with a trailing-12-month yield of 2.13%. And the Vanguard International Dividend Appreciation ETF has a more expensive P/E ratio at 19.33.
One possible risk of this fund is that its portfolio is less diversified than the other Vanguard ETF. The Vanguard International Dividend Appreciation ETF has almost 80% of its portfolio invested in its top five markets:
Japan: 30.9% of the fund
Canada: 23%
Switzerland: 14.4%
Germany: 5.5%
United Kingdom: 5.6%
That's a rather highly concentrated bet on just a few countries. If any of those countries experiences an economic downturn or a weakening of its currency against the U.S. dollar, that could be bad news for American investors in this fund.
Why buy VYMI vs. VIGI
Recent Vanguard research says developed markets outside the U.S. could outperform in the next few years; both funds fit that strategy. And in case you're concerned about high valuations of tech companies, these international dividend stock ETFs tend to hold value stocks, not growth stocks. The companies represented in these funds are involved in different parts of the global economy that are less directly involved with the AI boom.
But the Vanguard International High Dividend Yield ETF is more diversified, its P/E ratio is lower, and it has a track record of paying a higher dividend yield in the past 12 months. I believe this fund is a better choice for most long-term investors who want exposure to high-yield dividend stocks outside the U.S. market.
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HSBC Holdings is an advertising partner of Motley Fool Money. Ben Gran has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Schneider Electric. The Motley Fool recommends BHP Group, HSBC Holdings, Roche Holding AG, and SAP. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

VYMI vs. VIGI: Which International Dividend ETF Is Better?

In the latest close session, Shell (SHEL) was down 1.25% at $76.57. The stock's change was less than the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.66%.
Shares of the oil and gas company witnessed a loss of 10.69% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 4.76%, and the S&P 500's loss of 1.21%.
The upcoming earnings release of Shell will be of great interest to investors. The company's upcoming EPS is projected at $2.51, signifying a 76.76% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $104.4 billion, reflecting a 57.13% rise from the equivalent quarter last year.
SHEL's full-year Zacks Consensus Estimates are calling for earnings of $9.9 per share and revenue of $392.21 billion. These results would represent year-over-year changes of +57.14% and +43.29%, respectively.
It is also important to note the recent changes to analyst estimates for Shell. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.68% lower. Shell presently features a Zacks Rank of #3 (Hold).
Investors should also note Shell's current valuation metrics, including its Forward P/E ratio of 7.83. Its industry sports an average Forward P/E of 7.04, so one might conclude that Shell is trading at a premium comparatively.
It is also worth noting that SHEL currently has a PEG ratio of 0.48. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.57 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
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Here's Why Shell (SHEL) Fell More Than Broader Market

Key Points
Shell expects 2026 LNG demand to be about the same as last year due to the Strait of Hormuz closure.
It expects growth to resume in 2027 and continue through 2050.
Several energy companies are building new LNG capacity to capitalize on growing demand.
Shell (NYSE:SHEL) recently released its latest outlook for the global liquefied natural gas (LNG) market. The energy giant noted that while the war-driven closure of the Strait of Hormuz will cause LNG demand to flatten out this year, it expects growth to resume in 2027 and rise 65% by 2050.
Here’s a look at Shell’s latest outlook and some LNG stocks capitalizing on this growth trend.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Image source: Getty Images.
A war-driven speedbump
About 20% of global LNG volumes flowed through the Strait of Hormuz before the U.S. and Israel launched military strikes against Iran earlier this year. Iran has retaliated by attacking ships trying to exit the Persian Gulf through the Strait of Hormuz, causing a steep drop in LNG traffic. Iran also attacked LNG infrastructure in Qatar, causing damage that could knock out 17% of its capacity for up to five years. ExxonMobil (NYSE:XOM) owned minority interests in two of the damaged LNG trains, while Shell holds a stake in a damaged gas-to-liquids facility.
U.S. LNG shippers have helped offset some of this supply disruption by ramping up exports, including a record 11.7 million metric tons (MT) in March. Meanwhile, U.S. export capacity got a boost in April when ExxonMobil and its partner QatarEnergy loaded the first cargo at their recently completed Golden Pass terminal.
Despite the surge in U.S. LNG exports, Shell expects that global LNG demand will be similar to last year’s level. That assumes shipping through the Strait of Hormuz returns to normal later this summer.
While Shell sees flat demand this year, it expects growth to return to normal in 2027. It foresees growth continuing through 2050, when demand is projected to reach 700 million tonnes, a 65% increase from 2025 levels. Asia will be the main driver of LNG demand growth. Emerging markets in South and Southeast Asia will increasingly adopt the cleaner-burning fuel in place of coal. Meanwhile, mature markets like Japan will need more LNG to help power data centers.
More LNG investment is needed
Several energy companies are already building new LNG capacity to meet growing demand. However, Shell estimates that energy companies will need to build around an additional 200 million tonnes of new supply in the 2030s and 2040s to meet growing demand.
Shell is helping lead the charge to build more global LNG capacity. It has joint venture investments in two expansion projects in Qatar: North Field East (NFE) and North Field South (NFS). It also has a minority stake in the Ruwais LNG project in the UAE. Meanwhile, Shell is evaluating an expansion of the recently completed LNG Canada terminal, which it could approve by the end of this year. As an LNG leader, Shell will likely continue to pursue new investments to grow global LNG capacity.
Meanwhile, LNG is one of ExxonMobil’s long-term growth catalysts. As noted, Exxon and QatarEnergy recently completed the Golden Pass LNG project. It’s also a partner with Shell on QatarEnergy’s NFE project. These projects are key drivers supporting its growth plan to 2030. Additionally, Exxon expects new LNG project start-ups in Papua New Guinea and Mozambique to fuel growth beyond 2030. Exxon is also reportedly evaluating a potential acquisition of Woodside Energy, which has leading LNG operations in Australia and a large-scale LNG development project in the U.S. (Louisiana LNG).
ConocoPhillips (NYSE:COP) is also expanding its global LNG platform. The U.S. oil and gas giant owns interests in the NFS and NFE projects. Additionally, it has an equity interest in Port Arthur LNG (phase 1) and an LNG supply contract for phase 2. The company also has an LNG supply agreement for Rio Grande LNG (Train 5). Those contracts are part of its aspiration to build a 10 to 15 MT per year portfolio of commercial LNG supply contracts from third-party facilities.
Capitalizing on growing global LNG demand
While LNG demand will flatten out this year due to supply disruptions stemming from the Strait of Hormuz closure, growth should resume next year and continue through 2050. That’s providing Shell, ExxonMobil, ConocoPhillips, and other large energy companies with multiple LNG investment opportunities. These investments should help fuel their growth in the coming decades, making them compelling energy stocks to buy and hold for the long term.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Shell Sees Global LNG Demand Surging 65% By 2050 Despite a War-Driven Slowdown in 2026. Here's What Investors Need to Know.

Shell plc SHEL has reinforced its long-standing collaboration with Chiyoda Corporation by signing a new Enterprise Framework Agreement, positioning the Japanese engineering leader as a partner for future engineering and procurement support across global energy projects. The agreement reflects Shell’s focus on improving project execution, accelerating development timelines and increasing flexibility as global energy investments evolve.
Built on more than five decades of cooperation, the partnership combines Shell’s global energy portfolio with Chiyoda’s expertise in engineering, procurement and project management. This framework is designed to support complex developments across LNG, conventional energy and low-carbon sectors while improving cost efficiency and execution certainty.
Streamlined Global Engineering Collaboration
The agreement allows its subsidiary, Shell Global Solutions International, to engage Chiyoda quickly whenever engineering and procurement services are required. Instead of negotiating separate contracts for each project, Shell can activate support through a pre-established structure.
This significantly reduces administrative lead time and enables faster mobilization of engineering teams, which is particularly important for large-scale international projects with tight development schedules. It also ensures consistent engineering standards across different regions and projects.
Decades of Proven Partnership
Shell, the UK-based integrated energy company, and Chiyoda’s relationship spans over 50 years and includes participation in major global energy developments. This long history has helped both organizations develop aligned engineering practices, shared methodologies and efficient project execution models.
Their established working relationship reduces project risk by enabling smoother coordination from early planning through to final delivery, an increasingly important advantage as energy projects grow in technical complexity.
Improved Project Execution and Integration
The framework enhances coordination between engineering, procurement and project teams. Earlier engagement allows technical decisions, procurement planning and design activities to progress in parallel, improving communication and reducing delays.
By integrating workflows more effectively, the partnership improves schedule predictability, strengthens cost control and supports more reliable project delivery outcomes.
Supporting Complex Global Energy Infrastructure
Chiyoda, a major Japanese integrated engineering firm headquartered in Yokohama, brings extensive experience in delivering large-scale energy infrastructure, including LNG facilities, petrochemical plants, refineries, hydrogen systems and carbon capture projects. Its services cover engineering design, procurement, construction planning, project controls and commissioning support.
This aligns with Shell’s diversified global portfolio, which spans LNG expansion, upstream and downstream operations, renewable energy investments and emerging low-carbon technologies.
Greater Flexibility for Future Investments
The agreement provides Shell with faster access to engineering capacity as new investment opportunities arise. This flexibility is essential in a rapidly changing energy market where companies must respond quickly to shifting demand, regulatory changes and evolving project priorities.
Whether for LNG, offshore developments, hydrogen or carbon capture projects, the framework enables quicker project initiation without delays caused by standalone contracting processes.
Cost Efficiency and Schedule Confidence
Earlier engineering involvement helps identify technical challenges sooner and allows procurement planning to begin earlier in the project lifecycle. This improves risk management and reduces the likelihood of costly delays during construction.
Better alignment between engineering and procurement also enhances supplier coordination and optimizes material delivery schedules, contributing to stronger overall project economics and execution reliability.
Chiyoda’s Expanding Global Role
The Shell agreement further strengthens Chiyoda’s position as a leading international engineering contractor. The company continues to support major energy developments worldwide and emphasizes early-stage collaboration to optimize project design, efficiency and sustainability outcomes.
The selection by QatarEnergy for Front-End Engineering Design work on the North Field West LNG onshore facilities in Ras Laffan highlights its continued strength in large-scale LNG infrastructure development.
Strategic Outlook for Shell
The strengthened partnership supports Shell’s broader strategy of improving capital efficiency and project execution performance across its global operations. By leveraging Chiyoda’s engineering and procurement capabilities through a structured framework, Shell can initiate projects more quickly, improve coordination and maintain greater control over delivery timelines.
This agreement reflects how long-term strategic partnerships continue to shape the future of global energy development, enabling both companies to deliver increasingly complex projects with improved efficiency, reliability and technical excellence.
SHEL's Zacks Rank & Key Picks
Currently, SHEL has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Delek US Holdings DK and Crescent Energy Company CRGY, each sporting a Zacks Rank #1 (Strong Buy) and Phillips 66 PSX, carrying a Zacks Rank #2 (Buy) at present. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Delek US is valued at $2.93 billion. It is a U.S.-based downstream energy company that focuses on refining crude oil and distributing petroleum products. Headquartered in Brentwood, TN, Delek US operates through two main segments: refining and logistics.
Crescent Energy is valued at $3.34 billion. It is an independent U.S. energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas, and natural gas liquids. Crescent Energy operates primarily in the Eagle Ford, Permian and Uinta basins.
Phillips 66 is valued at $68.82 billion. It is a diversified energy company that refines crude oil, markets petroleum products, and operates midstream, chemicals, and renewable fuels businesses. Phillips 66 operates across the United States and internationally.
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Shell Signs New Engineering Framework Agreement With Chiyoda

The global energy market has experienced a dramatic round-trip. Following a joint U.S.-Israel strike on Iran in late February 2026 and the consequent closure of the Strait of Hormuz, which disrupted nearly 20% of global oil supply, crude prices surged. Resultantly, Brent crude climbed above $100 per barrel in early March before peaking at nearly $126 in April, its highest level since 2022.
However, in a swift turn of events, an agreement between Washington and Tehran near mid-June led to the reopening of the Strait, reversing much of these gains.
The geopolitical risk premium dissolved, and on June 26, oil prices dropped below $72 a barrel, completely wiping out the war premium, touching pre-war levels.
For investors looking at the energy sector, a lower crude price does not necessarily mean the opportunity has vanished. In fact, these low oil prices offer a lucrative entry point, especially through diversified Energy exchange-traded funds (ETFs).
Before identifying these funds, it is crucial to understand how individual energy bigwigs performed during the volatile past few months and whether they offer long-term resilience so that energy ETFs remain a lucrative investment choice.
Divergent Performance of Energy Giants
During the peak of the conflict, oil majors showed mixed operational success. While their stock prices surged on the back of crude price spikes, their mixed first-quarter results highlighted distinct structural differences, hinting at factors beyond raw commodity prices influencing the industry's performance.
Notably, first-quarter 2026 earnings moved in different directions among the five Western oil majors, with profits rising at European firms while declining at their U.S. counterparts.
British oil giant Shell SHEL and French energy major TotalEnergies TTE both reported solid double-digit year-over-year growth in earnings, while London-based oil major BP Plc BP posted a sharp hike of 134% in its bottom line. By contrast, U.S. giants ExxonMobil XOM and Chevron CVX saw a steep double-digit decline in their quarterly earnings.
This divergence was largely because European companies have robust trading and refining businesses that benefit from volatility, while U.S. majors rely more heavily on pure crude extraction.
Oil refiners like Valero Energy VLO, which benefit from widening fuel-to-oil margins, have reported solid first-quarter results, with its bottom line improving a massive 374% year over year. This was driven by VLO’s throughput averaging 2.9 million barrels per day.
What Lies Ahead?
Looking ahead, energy equities possess structural tailwinds like refining margins, natural gas demand, and disciplined capital allocation that can boost the sector beyond raw oil prices.
Natural gas and LNG investments are hitting decade highs as some global supply routes permanently diversify from the Middle East.
U.S. crude oil inventories fell more than expected in the week ended June 12 and were about 6% below the five-year average for the time of year, as net imports decreased and refineries ran near full capacity, as per data released by the U.S. Energy Information Administration (as cited in the Wall Street Journal). This tight physical supply creates a fundamental price floor, suggesting that while the geopolitical war premium has evaporated, further downside risk for oil prices remains strictly limited.
Energy ETFs to Buy
Considering the aforementioned discussion, while the sector offers solid growth opportunities, investing in individual energy stocks navigating headwinds like shifting refining margins might be a risky decision. Instead, one may consider investing in energy ETFs like the ones mentioned below, which offer a safer, more balanced strategy, allowing an investor to capture the sector's potential without betting on a single winner.
State Street Energy Select Sector SPDR ETF XLE
This fund, with net assets worth $36.35 billion, offers exposure to 21 companies in the oil, gas and consumable fuel, energy equipment and services industries. XOM holds the first spot in this fund, with 22.42% weightage, while CVX holds the second position with 16.43% weightage. VLO holds the fifth spot with 4.47% weightage.
XLE has surged 20.4% year to date. The fund charges 8 basis points (bps) as fees and traded at a good volume of 18.98 million shares in the last trading session.
Vanguard Energy Index Fund ETF Shares VDE
This fund, with net assets worth $11.8 billion, offers exposure to 111 companies whose businesses are dominated by any of the following activities: the construction or provision of oil rigs, drilling equipment, and other energy-related service and equipment; or the exploration, production, marketing, refining, and/or transportation of oil and gas products. XOM holds the first spot in this fund, with 21.86% weightage, while CVX holds the second position with 14.14% weightage. VLO holds the seventh spot with 3.13% weightage.
VDE has soared 20.8% year to date. The fund charges 9 bps as fees and traded at a volume of 0.60 million shares in the last trading session.
iShares Global Energy ETF IXC
This fund, with net assets worth $2.03 billion, offers exposure to 50 global companies that produce and distribute oil and gas. XOM holds the first spot in this fund, with 17.41% weightage, while CVX holds the second position with 9.85% weightage. SHEL holds the third spot with 6.59% weightage, while TTE holds the fourth spot with 5.02%. BP holds the seventh position with 2.99% weightage, while VLO holds the 10th spot with 2.37% weightage.
IXC has rallied 18.2% year to date. The fund charges 40 bps as fees and traded at a good volume of 1.88 million shares in the last trading session.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Energy ETFs to Buy as Oil Price Slides to Pre-Iran War Level

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Dimensional International Value ETF (Symbol: DFIV) where we have detected an approximate $297.3 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 362,100,000 to 367,600,000). Among the largest underlying components of DFIV, in trading today Shell plc (Symbol: SHEL) is down about 0.5%, HSBC Holdings plc (Symbol: HSBC) is off about 1%, and Toronto Dominion Bank (Symbol: TD) is lower by about 0.2%. For a complete list of holdings, visit the DFIV Holdings page » The chart below shows the one year price performance of DFIV, versus its 200 day moving average:
Looking at the chart above, DFIV's low point in its 52 week range is $42.50 per share, with $56.315 as the 52 week high point — that compares with a last trade of $54.12. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further DFIV Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

DFIV, SHEL, HSBC, TD: Large Inflows Detected at ETF

For Immediate Release
Chicago, IL – June 25, 2026 – Zacks.com announces the list of stocks and featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Shell plc SHEL, Novo Nordisk A/S NVO, SAP SE SAP, Rave Restaurant Group, Inc. RAVE and Vaso Corp. VASO.
Here are highlights from Thursday’s Analyst Blog:
Top Research Results for Shell, Novo Nordisk and SAP
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Shell plc, Novo Nordisk A/S and SAP SE, as well as two micro-cap stocks Rave Restaurant Group, Inc. and Vaso Corp. The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Today's Featured Research Reports
Shares of Shell have gained +16.7% over the past year against the Zacks Oil and Gas - Integrated - International industry’s gain of +33.7%. The company benefits from its diversified upstream, LNG, refining, chemicals, marketing and trading operations, which help stabilize earnings during commodity and geopolitical volatility.
Shell’s strong LNG portfolio, supported by LNG Canada, Qatar exposure and the ARC acquisition, strengthens long-term production growth and cash flow potential. Share buybacks, dividend hikes, cost reductions and a solid balance sheet further support shareholder returns.
However, Middle East disruptions, including outages in Qatar, expose Shell to geopolitical risks, while weak chemical margins, rising capital spending, working capital volatility, dependence on trading gains and stricter environmental regulations could pressure profitability and free cash flow. Hence, investors are advised to wait for a better entry point.
(You can read the full research report on Shell here >>>)
Novo Nordisk’s shares have underperformed the Zacks Large Cap Pharmaceuticals industry over the past year (-27.7% vs.+30%). The company’s weak 2026 guidance suggests poor underlying momentum, as rising competition, pricing pressure and higher spending offset GLP-1 growth, dampening hopes of a near-term turnaround.
Nevertheless, Novo Nordisk’s semaglutide drugs for obesity and diabetes are still driving growth through modest demand. Label expansions of the same in cardiovascular and other indications will likely boost sales. Higher-dose Wegovy is approved in the EU and the United States, which is a positive.
Novo Nordisk’s Wegovy pill secured FDA approval for obesity and has already surpassed 3 million prescriptions since launch. The Wegovy pill is also currently under review in the EU. The Ozempic pill has also received FDA approval and has been launched in the U.S. market for diabetes. Partnership with OpenAI to boost drug discovery is a positive.
(You can read the full research report on Novo Nordisk here >>>)
Shares of SAP have underperformed the Zacks Computer - Software industry over the past year (-47.6% vs.-26.2%). The Middle East conflict and broader macroeconomic and geopolitical uncertainty remain headwinds for the company. Despite these risks, it reaffirmed its full-year 2026 guidance, including 23-25% cloud revenue growth at cc to €25.8-€26.2 billion. Software support revenue is likely to decline faster as more customers shift to the cloud.
Nevertheless, SAP’s performance hinges on its high-growth cloud business, expanding margins, AI-driven differentiation and strong capital returns. Public cloud orders are gaining momentum, making up a major chunk of its quarterly volume, while SAP continued to gain market share against best-of-breed software vendors.
SAP expects AI-driven consumption models to lead cloud revenue growth by 2030. Rapid uptake of Rise with SAP and Grow with SAP solutions is aiding sales while SAP Business AI, Business Data Cloud and Sovereign Cloud are gaining solid traction.
(You can read the full research report on SAP here >>>)
Rave Restaurant’s shares have outperformed the Zacks Retail - Restaurants industry over the past year (+31.1% vs. -5.9%). This microcap company with a market capitalization of $46.47 million has its investment thesis centered on Pizza Inn’s value-oriented positioning, which aligns with consumer demand for affordability, consistency and experiential dining. It benefits from a capital-efficient franchise model, a strong balance sheet and a development pipeline that could support expansion and earnings growth.
However, key risks include Pie Five’s continued underperformance, limited net unit growth, dependence on franchisee health and broader industry cost pressures. Growth also remains tied to system-wide sales performance and development execution.
The valuation reflects recognition of RAVE’s profitability and Pizza Inn's growth potential, while discounting its small scale and execution risk. The market appears to be assigning only partial credit to future expansion opportunities, making growth a key catalyst for valuation re-rating.
(You can read the full research report on Rave Restaurant here >>>)
Shares of Vaso have outperformed the Zacks Medical - Instruments industry over the past year (+47.2% vs. -6.6%). This microcap company with a market capitalization of $33.42 million has its investment thesis supported by durable revenue streams, a long-term partnership, a growing backlog and a recurring-services-oriented IT platform. Deferred revenue and contractual obligations provide visibility into future revenue.
However, profitability remains constrained by a cost structure that limits operating leverage. Dependence on a single strategic customer creates concentration risk, while the successful conversion of backlog into revenues and cash remains critical. The IT and medical technology segments also require greater scale and margin improvement.
The valuation suggests investors remain cautious about Vaso’s ability to translate revenue visibility into sustainable profitability. The stock could offer upside if management successfully executes on margin expansion and backlog conversion, though execution risk remains a concern.
(You can read the full research report on Vaso here >>>)
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Periodand min./max. price, $	Price change, %		Volatility, %		Volume, $
Periodand min./max. price, $	SHEL	Industry	SHEL	Industry	Volume, $
Yesterday 88.0 - 88.9	-4.79	22.45	21.09	1.58	336.96M
Week 85.7 - 89.4	-3.33	16.55	2.42	3.51	2.50B
Month 76.3 - 89.4	9.22	18.08	3.76	11.71	7.29B
3 Months 76.3 - 90.9	-5.46	7.06	7.95	21.95	25.91B
6 Months 73.1 - 94.9	13.51	68.39	12.49	37.91	52.94B
Year 68.6 - 94.9	16.98	254.82	21.78	64.72	81.83B
3 years 58.5 - 94.9	35.04	372.92	36.17	86.60	194.39B
5 years 38.0 - 94.9	118.41	182.38	56.18	106.20	299.64B
All time 21.3 - 88.7	4.16	120.84	—	—	248.83B

Shell PLC

Price and volatility history

Risk ratios