# Shell plc (SHEL)

> Source: Nexqual · https://nexqual.com/SHEL · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Shell plc (SHEL), nexqual.com/SHEL" · informational, not investment advice.

**Price:** USD 105.8 (+0.42% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 105.36 · day 104.14–106.63 · 52w 68.63–106.68 · market cap $301B · NYQ

## Key facts
- 5 of 80 tracked superinvestors hold SHEL (13F, Q2 2026): 0 new, 1 added, 2 reduced, 2 unchanged.
- Analysts: Hold (mean 2.50 on a 1–5 scale) (16 analysts), mean target USD 105.56 (range 83–123).
- Total return with dividends: 1Y +44.9% vs S&P 500 +14.9%; 5Y +161.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 3.7, revenue estimate $101B.

## Superinvestors (SEC 13F-HR, Q2 2026)
5 of 80 tracked investors hold SHEL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 0.59% | $200M | Reduced -19.3% |
| First Eagle Investment | First Eagle Investment Management | 0.14% | $83.2M | Added +1.5% |
| Christopher Bloomstran | Semper Augustus | 0.04% | $385K | Unchanged |
| Mairs & Power | Mairs & Power Funds | 0.01% | $631K | Unchanged |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $4.2M | Reduced -1.3% |

## Analysts
Consensus Hold (mean 2.50 on a 1–5 scale), 16 analysts; mean target USD 105.56 (low 83, high 123).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-28 | TD Cowen | Target raised | Buy | $107 → $115 |
| 2026-09-03 | Piper Sandler | Target raised | Neutral | $89 → $100 |
| 2026-08-03 | Piper Sandler | Target raised | Neutral | $88 → $89 |
| 2026-07-31 | Wells Fargo | Target raised | Equal-Weight | $100 → $105 |
| 2026-07-20 | Mizuho | Initiated | Neutral | $98 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +44.9% | +161.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +45.1% | +21.1% |
| Volatility (annualized) | 22.9% | 23.8% |
| Max drawdown | -18.0% (Apr 2026→Jun 2026) | -20.9% (May 2022→Jul 2022) |

## Peers (Oil & Gas Integrated)
CVX (Chevron Corporation) USD 226.68 -0.04% · TTE (TotalEnergies SE) USD 90.96 +0.69% · PBR (Petroleo Brasileiro S.A. Petrob) USD 25.62 -0.16% · BP (BP p.l.c.) USD 50.05 +0.40% · XOM (ExxonMobil Holdings Corporation) USD 178.23 +0.08% · EQNR (Equinor ASA) USD 46.42 +0.65%

## More
Full page: https://nexqual.com/SHEL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SHEL's own 20-F filed 2026-03-12 (https://www.sec.gov/Archives/edgar/data/1306965/000162828026017024/shel-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Citadel Pacific | "￮In May 2025, we agreed to transfer ownership of our Indonesia mobility business to a joint venture between Citadel Pacific Limited and Sefas Group [A], and we signed an agreement to sell our Mexico mobility sites [A]." |
| Partner | Adura Energy | "We also completed the formation of the Adura Energy Limited joint venture, which is one of the largest independent producers in the UK North Sea." |
| Partner | China National Petroleum | "Also in Queensland, we have a 50% interest in the Arrow joint venture with China National Petroleum Corporation (CNPC)." |
| Partner | Chevron (CVX) | "We have a 25% interest in the Chevron-operated Gorgon LNG joint venture that includes offshore production." |
| Partner | CANADIAN NATURAL RESOURCES Ltd (CNQ) | "In November 2025, we completed the previously announced agreement with Canadian Natural Resources Limited to swap our remaining 10% interest in the Albian mining and extraction operations in exchange for an additional 10…" |
| Partner | Atlantic Shores Offshore Wind | "￮In October 2025, we voluntarily withdrew from Atlantic Shores Offshore Wind, LLC, in the USA, assigning our 50% outstanding membership interest to our existing joint-venture partner, EDF-RE Offshore Development, LLC." |
| Partner | EDF-RE Offshore Development | "￮In October 2025, we voluntarily withdrew from Atlantic Shores Offshore Wind, LLC, in the USA, assigning our 50% outstanding membership interest to our existing joint-venture partner, EDF-RE Offshore Development, LLC." |
| Partner | Keppel | "￮In November 2025, we completed the sale of our 49% interest in Cleantech Renewable Assets Pte Ltd to our joint-venture partner Keppel Ltd." |
| Partner | Shell Petroleum Development Company of Nigeria | "We improved efficiencies, and made divestments in Singapore (Bukom, Jurong), in Nigeria (SPDC) and in the UK to the Adura joint venture and ended several activities in our Downstream, Renewables and Energy Solutions busi…" |
| Partner | ExxonMobil (XOM) | "Since 1963, NAM – a joint venture between Shell and ExxonMobil (50%:50%) – has been producing gas from the Groningen field, the largest gas field in Western Europe." |

Other companies that name SHEL in their own reports (relationship from SHEL's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | 17 Education & Technology Group Inc. (YQ) | 20-F 2026-04-29 | "The in-school teaching and learning solutions industry and after-school education industry in mainland China are competitive, and we expect competition in this sector to persist and intensify." |
| partner | GasLog Partners LP (GLOP-PB) | 20-F 2026-03-19 | "For the years ended December 31, 2023, December 31, 2024 and December 31, 2025, 39%, 44% and 55%, respectively, of the Partnership's revenues were earned from subsidiaries of Shell plc and accounts re…" |
| supplier | Transocean Ltd. (RIG) | 10-K 2026-02-23 | "For the year ended December 31, 2025, our most significant customers were Petróleo Brasileiro S.A. (together with its affiliates, "Petrobras"), Shell plc (together with its affiliates, "Shell") and Eq…" |
| supplier | PBF Energy Inc. (PBF) | 10-K 2026-02-12 | "For the years ended December 31, 2025 and December 31, 2024 only one customer, Shell plc ("Shell"), accounted for 10% or more of our revenues (approximately 13% and 13%, respectively)." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.70 | $2.73 | +35.7% | $100.86B | 6 |
| Next quarter (ends 2026-12-31) | $3.57 | $2.28 | +56.7% | $101.48B | 7 |
| Current fiscal year (ends 2026-12-31) | $12.72 | $10.26 | +23.9% | $353.20B | 12 |
| Next fiscal year (ends 2027-12-31) | $10.96 | $8.81 | +24.4% | $320.51B | 12 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-10-30 (includes earnings 2026-10-29): ±3.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 31.0% | ±3.7% |
| 2026-11-06 | 14 | 29.7% | ±4.8% |
| 2026-11-13 | 21 | 26.7% | ±5.6% |
| 2026-11-20 | 28 | 26.3% | ±6.1% |
| 2026-11-27 | 35 | 25.3% | ±6.4% |
| 2026-12-04 | 42 | 25.4% | ±7.0% |
| 2026-12-18 | 56 | 25.5% | ±8.0% |
| 2027-01-15 | 84 | 25.0% | ±9.6% |