London, Feb 17, 2026, 08:17 GMT — Regular session.
Shell SHEL.L climbed 0.5% to 2,879 pence early Tuesday in London, following a previous close of 2,865.5 pence, delayed exchange data showed.
Traders are once again eyeing the stock as scrutiny on buybacks intensifies across the sector, with crude prices having slipped from last year’s levels. Earlier this month, Shell kicked off a $3.5 billion repurchase and said it will cancel every share bought back. The company aims to wrap up the programme ahead of its first-quarter results, depending on market conditions.
Oil prices slipped, with Brent losing 0.86% to $68.06 a barrel by 0738 GMT. Investors are watching supply risks after Iranian naval drills took place near the Strait of Hormuz, just hours before U.S.-Iran talks are scheduled. “Market sentiment is closely tied to the tone and progress of these negotiations,” said Sugandha Sachdeva, founder of SS WealthStreet. Reuters
Shell disclosed late Monday it repurchased 1,380,295 shares for cancellation on Feb. 16, executing the buys on both London and Amsterdam exchanges. In London, the volume-weighted average landed at roughly 28.78 pounds per share; in Amsterdam, the figure came to about 33.19 euros.
Shell has stuck to a straightforward message after earnings: prioritizing returns, even as profits dip. The company posted $3.3 billion in net income for the fourth quarter, missing the $3.5 billion figure expected by analysts in its own survey. Still, Shell kept its $3.5 billion share buyback in place and bumped the dividend up 4% to $0.372 per share. Finance chief Sinead Gorman described the payout range as “sacrosanct.” Reuters
Stocks across the board leaned steady to slightly higher. As of 0805 GMT, the FTSE 100 had gained roughly 0.3%. European indexes, though, showed a mixed picture with investors weighing earnings, UK labor figures, and those ongoing U.S.-Iran nuclear discussions moving crude.
The bearish scenario for energy stocks hasn’t disappeared. Citi notes that while geopolitical flare-ups could keep oil prices elevated for now, Brent could slide to $60–$62 a barrel if Iran and Russia-Ukraine agreements materialize by summer. The bank also pointed out that OPEC+ may boost supply from April if crude holds in the mid-$60s to $70 zone.
Shell’s dividend schedule is the next milestone for investors. Shares go ex-dividend on Feb. 19, so anyone picking up stock after that won’t get the next 37.20 cent fourth-interim dividend, which lands on March 30.
