Shell Insider Sale Lands Alongside LBBW's Target Hike and a Fresh LNG Offtake
Published on 11/07/2026 at 02:01 | Editorial boerse-global.de
A seven-figure share disposal by one of Shell's senior trading executives surfaced on Monday, the same day the energy major's LNG arm put pen to paper on a five-year supply deal with Greece's METLEN. Andrew Smith, president of Trading and Supply, offloaded 33,000 ordinary shares on 30 October for a reported total of €1,604,528.15, according to a regulatory disclosure.
The sale is a routine notification and carries no read-through on the company's outlook. Far more consequential for the equity story was LBBW's move on Wednesday, when the Landesbank reportedly lifted its price target on Shell from 3,600 to 4,300 pence while keeping its buy rating intact — a change in the target mark, not in the recommendation itself.
Refining Margins Power a $10.8 Billion Quarter
The upgrade follows third-quarter 2026 results published on 29 October, when Shell posted adjusted earnings of $10.814 billion. Management credited strong operational performance and record-high refining margins for the result. Cash flow from operations came in at $21.043 billion, with free cash flow reaching $16.322 billion.
Should investors sell immediately? Or is it worth buying Shell?
Shareholders were handed an interim dividend of US$0.3906 per ordinary share. The stock goes ex-dividend on 12 November, with a record date of 13 November and payment scheduled for 21 December.
Capital returns extend beyond the dividend. Roughly a week before the results, Shell kicked off a $5 billion share buyback running for about three months, with repurchased stock set to be cancelled. The programme permits purchases of up to 470,000,000 ordinary shares — a ceiling written into the terms, not a tally of what has already been bought.
Two Long-Term Offtake Agreements
On the commercial front, Shell Trading Rotterdam on Monday signed a long-term offtake agreement with Green Sky Manara covering output from a planned plant at Port Nador in Morocco. The contract grants exclusive rights to roughly 150,000 tonnes per year of sustainable aviation fuel, or an equivalent volume of hydrotreated vegetable oil, alongside bionaphtha and biopropane. The facility is slated to start operations in October 2028.
The METLEN deal, announced by the Greek group, adds six LNG cargoes a year over five years beginning in 2027, with Shell Global LNG Limited as the counterparty. Annual volumes come to about 0.6 billion cubic metres, sourced mainly from Shell's US LNG portfolio and destined largely for Greece and other European markets.
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