Shell climbed 1.32% to 34.83 Monday, outperforming a softer broader market as Brent crude pushed above $97 per barrel and Middle East tensions heightened supply concerns. The integrated oil and gas giant reported second-quarter adjusted earnings of $9.8 billion and operating cash flow exceeding $21 billion, with net debt falling to roughly $42 billion. Management also launched a new $3 billion share-buyback program. However, Shell's shares trade 13.84% above its GF Value estimate of $81.65, indicating a premium valuation that may already reflect optimism about commodity prices.
Shell plcOil surge above $97 and Middle East tensions heighten supply concerns, boosting cash flow.
