Shell plc (NYSE:SHEL) said Thursday that “the safety and security of Shell’s employees and contractors is our highest priority,” as it provided an update on its facilities in Qatar following a security incident.
The company added that it continues to work closely with local authorities, partners, and customers.
Liquefied natural gas (LNG) production in Qatar has been shut down since early March, the company said, underscoring the operational impact of recent events at one of the world’s key energy hubs.
Ras Laffan Incident and Facility Status
Shell said an attack occurred at Ras Laffan Industrial City on the evening of March 18. “All staff on site are safe,” the company said. A fire that broke out within the Pearl gas-to-liquids (GTL) facility as a result of the incident “was rapidly extinguished.”
“The situation is under control and Pearl GTL is in a safe state,” Shell said.
Damage Assessment Underway
The company said it is “currently assessing any potential damage to Pearl GTL” and is working with QatarEnergy and relevant authorities to understand the impact on the wider Ras Laffan Industrial City facilities.
Other Key Updates
Last week, Shell agreed to sell Jiffy Lube International and Premium Velocity Auto to Monomoy Capital Partners for $1.3 billion, including the brand and its franchised network.
The move supports Shell’s strategy to streamline its portfolio and optimize assets amid evolving global energy trends.
Technical Analysis
The stock is currently trading 8.3% above its 20-day simple moving average (SMA) and 20% above its 100-day SMA, demonstrating longer-term strength. Shares have increased 29.68% over the past 12 months and are currently positioned closer to their 52-week highs than lows.
The RSI is at 78.39, indicating that the stock is in overbought territory, which could suggest a potential pullback. Meanwhile, MACD is at 3.5047, above its signal line at 2.7998, indicating bullish momentum.
The combination of overbought RSI and bullish MACD suggests mixed momentum, indicating that while the stock is strong, it may be due for a correction.
- Key Resistance: $92.50
- Key Support: $74.50
Earnings & Analyst Outlook
Looking further out, the next major catalyst for the stock arrives with the May 1, 2026 (estimated) earnings report.
- EPS Estimate: $1.76 (Down from $1.84)
- Revenue Estimate: $70.07 Billion (Up from $69.23 Billion)
- Valuation: P/E of 15.5x (Indicates fair valuation)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $82.65. Recent analyst moves include:
- Piper Sandler: Overweight (Raises Target to $106.00) (Mar. 12)
- Wells Fargo: Equal-Weight (Lowers Target to $77.00) (Feb. 6)
- Piper Sandler: Overweight (Lowers Target to $89.00) (Feb. 6)
Top ETF Exposure
- Octane All-Cap Value Energy ETF (NASDAQ:OCTA): 4.13% Weight
- Dimensional International Value ETF (NYSE:DFIV): 2.70% Weight
- State Street SPDR S&P Global Natural Resources ETF (NYSE:GNR): 4.38% Weight
Significance: Because SHEL carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
SHEL Price Action: Shell shares were down 1.56% at $91.30 during premarket trading on Thursday. The stock is trading near its 52-week high of $92.95, according to Benzinga Pro data.
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