Under £25 now, Shell’s share price looks cheap to me anywhere below £66.43!
Shell’s (LSE: SHEL) share price has dropped 17% from its 13 May 12-month traded high of £29.56.
Such a fall could flag that a company is fundamentally worth less than it was before. Or it may signal a bargain-buying opportunity to be had.
To find out which it is here, I ran the key numbers and looked more closely at the business.
Its Q1 results on 2 May, which showed adjusted earnings of $5.6bn (£4.22bn). This was 27% lower than Q1 2024’s $7.7bn, largely reflecting the drop in the benchmark oil price over the period. However, it did beat consensus analysts’ forecasts for $4.96bn.
Positive as well was the announcement of another share buyback, which tends to support long-term stock price…
