Shell Stock (SHEL) Rises on $3.5B Shareholder Returns and M&A Ambitions
Oil giant Shell (SHEL) surged in mid-trading as it announced a $3.5 billion shareholder payout and signaled aggressive acquisition plans amid low oil prices. CEO Wael Sawan emphasized "bolt-on" deals while dismissing speculation about a BP takeover, citing Shell's strategic focus on deepwater production and LNG.
Third-quarter adjusted earnings of $5.43 billion exceeded analyst expectations, reinforcing Shell's position to capitalize on market opportunities. The company maintains high standards for M&A but sees potential in a projected 2026 oil oversupply scenario.