$SHEL (+3,43 %)

What do you think of my portfolio performance for the last 2 years?

$KO (+2,11 %)
$VWRL (-0,81 %)
$VUSA (-0,62 %)
$VEUR (-0,61 %)
$VOW (-4,58 %)
$ENI (+3,08 %)
$BAYN (-2,59 %)
$INTC (-6,23 %)
$SAN (-0,66 %)
$FCT (-2,11 %)
$SL (-1,18 %)
$ISP (-2,26 %)
$SHEL (+3,43 %)
$LDO (-0,55 %)
$QBTS (-5,53 %)

morningstar publicó su lista y 14 de las 16 son británicas. pasé las 13 que ya tengo analizadas por mi herramienta:

🟢 ÓPTIMO (4)

• $NWG (-1,23 %) natwest - 5.06%, PER 8.68x, calidad 75/100

• $RKT (-0,6 %) reckitt - 4.16%, PER 11.6x

• $HSBA (-2,14 %) hsbc - 3.70%, PER 10.36x

• $LLOY (-0,9 %) lloyds - 3.58%, PER 15.6x

🟣 OBSERVAR (3)

• Relx AstraZeneca y Unilever ($REL (+0,91 %) , $AZN (-1,14 %) , $ULVR (+1,13 %) ). negocios de calidad, pero la valoración ya no deja margen

🟠 PRECAUCIÓN (4)

• BP (4.87%), Shell (3.39%), Rio Tinto (4.52%) y Barclays ($BP. (+3,91 %)
$SHEL (+3,43 %) , $RIO (-0,4 %) , $BARC (-0,28 %) ). rentabilidades altas que esconden ciclicidad. el 78% de impuesto marginal al petróleo en reino unido no ayuda

🔴 BAJO UMBRAL (2)

• Rolls-Royce $RR. (-2,56 %) : está en la lista de morningstar, pero paga 0.39%. calidad 35, oportunidad 5

• Glencore $GLEN (+0,15 %) : calidad 10/100. una rentabilidad también puede esconder un negocio en declive

🛢️💰 Exxon, Chevron, BP, Shell, and TotalEnergies posted a combined $48B in Q2 profit and nearly $90B in cash generation, an all-time high, fueled by elevated oil prices from U.S.-Iran tensions.

$XOM (+2,63 %)
$CVX (+3,12 %)
$BP. (+3,91 %)
$SHEL (+3,43 %)
$TTE (+1,88 %)

#Oil
#Earnings
#Energy

$SHEL (+3,43 %) came in good

Fund score is at good spot

margin and roic can be better

$VAR (+3,06 %) is better placed from what i see

But lot more volatility (safety score)

$EQNR (+2,89 %)

equinor is the one i would choose, but all 3 will be ok, choose shell or equinor if you plan on holding for 20-years region

final score

1-$EQNR (+2,89 %)

2-$SHEL (+3,43 %)

3-$VAR (+3,06 %)

$SHEL (+3,43 %)

⠀

📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬

• Adjusted earnings: $9.84B vs. $6.92B QoQ and $4.26B YoY

• Adjusted EPS: $1.76 vs. $1.22 QoQ and $0.72 YoY

• Adjusted EBITDA: $20.71B vs. $17.74B QoQ

• Operating cash flow: $21.43B

• Free cash flow: $17.52B

• Income attributable to shareholders: $10.82B

⠀

💰 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐑𝐞𝐭𝐮𝐫𝐧𝐬

• Q2 shareholder distributions: $5.2B

• Share buybacks completed: $3.0B

• Cash dividends paid: $2.2B

• Dividend declared: $0.3906 per share

• New buyback programme: $4.2B, including $3.0B of new repurchases and $1.2B carried over

⠀

📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬

• Higher realised prices, LNG trading, refining, chemicals and oil-products optimisation supported earnings

• Net debt fell to $41.8B from $52.6B QoQ, while gearing declined to 18.7% from 23.2%

• Shell has delivered $5.8B of structural cost reductions since 2022, including $0.7B in H1 2026

• Production declined to 2.46M boe/d, partly reflecting the impact of the Middle East conflict on Qatari volumes

⠀

💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐅𝐨𝐜𝐮𝐬

Shell continues to prioritize performance, capital discipline and portfolio simplification while maintaining substantial shareholder distributions.