Shares of Shell (NYSE: SHEL) were on an upswing in pre-market trading on Thursday after the company reported adjusted Q4 earnings of $1.39 versus $0.83 in the same period a year back but missed analysts’ consensus estimate of $2.29 per share. Moreover, the oil giant posted its highest-ever adjusted profits of $39.9 billion for FY22.
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Revenues came in at $101.3 billion, a growth of 18.8% year-over-year. This beat analysts’ expectations by $59.9 billion. The company also hiked its Q4 dividend by 15% to $0.575 per ADS and announced stock buybacks worth $4 billion.
In the first quarter of FY23, cash capex is expected to be within the range of $23 billion to $27 billion while adjusted loss is projected to be between $600 million and $400 million.
Overall, Wall Street analysts are cautiously optimistic about SHEL stock with a Moderate Buy consensus rating based on three Buys and three Holds.
