London, 20 November 2025 — Shell plc’s UK-listed shares edged higher on Thursday as investors digested fresh news on the company’s green hydrogen push, continued share buybacks and supportive analyst sentiment.
Shell Share Price Today: SHEL Ends Higher on the FTSE 100
At the close of trading on the London Stock Exchange, Shell plc (ticker: SHEL) finished at 2,806.5p per share, up 13p (+0.47%) compared with Wednesday’s closing price of 2,794p. Hargreaves Lansdown
Key trading stats for 20 November 2025 (London listing): Hargreaves Lansdown
- Closing price: 2,806.5p
- Daily change: +13.0p (+0.47%)
- Opening price: 2,819.0p
- Intraday range: roughly 2,800.0p – 2,820.6p
- 52‑week range: about 2,270p – 2,937.5p
- Market capitalisation: ~£160.8 billion
- Price/earnings (P/E) ratio: ≈ 9.7
- Dividend yield (trailing): ≈ 3.8–3.9%
Shell’s move came on a positive day for UK equities overall. The FTSE 100 index closed around 9,560 points, up roughly 0.5% on the day, helped by a global risk‑on mood following strong US tech earnings. Investing
On the continent, Shell’s Euronext Amsterdam listing also advanced modestly. Historical data show the Amsterdam‑traded shares ending near €31.90, up about 0.4% on Thursday. Investing
In the commodity backdrop, Brent crude futures traded around $63.9 per barrel, up around 0.6% after a sharp drop the previous day, reflecting continued jitters over global demand and supply but a slight intraday recovery. Investing
Today’s Big Story: Shell Locks In Green Power for REFHYNE 2 Hydrogen Project
The standout company‑specific story for 20 November 2025 is Shell’s progress on its flagship REFHYNE 2 green hydrogen project in Germany.
Two long‑term PPAs to power a 100 MW electrolyser
Multiple specialist energy outlets report that Shell Energy Europe Limited, a Shell subsidiary, has signed two new power purchase agreements (PPAs) in Germany to secure renewable electricity for the REFHYNE 2 electrolyser at the Shell Energy and Chemicals Park Rheinland, near Cologne. Hydrogen Europe
According to Hydrogen Europe, Renewable Watch and other industry sources, the deals look broadly as follows: Hydrogen Europe
- Offshore wind PPA:
- About one‑third of the output from the 332 MW Nordsee One offshore wind farm in the German North Sea.
- Contract term: around five years.
- Solar PPA:
- About 75% of the electricity generated by a 230 MW solar project being built by Solarkraftwerk Halenbeck‑Rohlsdorf in Brandenburg.
- Contract term: about 10 years.
Together, these agreements are expected to supply a “significant proportion” of the power needed for REFHYNE 2, a 100 MW proton‑exchange membrane (PEM) electrolyser that will produce up to ~16,000 tonnes of renewable hydrogen per year once in operation, targeted for 2027. Hydrogen Europe
The renewable hydrogen will be used primarily to help decarbonise operations at the Rheinland site, displacing part of the fossil‑based hydrogen currently consumed in refining processes. Renewable Watch
Why this matters for Shell’s share price
German financial portal FinanzNachrichten, summarising commentary from Der Aktionär, notes that Shell’s share price had recently come under pressure from weaker oil and gas prices, but highlights the REFHYNE 2 project as an “exciting” step in the company’s strategy to reduce long‑term dependence on volatile fossil fuels by building leading positions in renewables and hydrogen. Finanznachrichten
For equity investors, the PPAs tick several boxes:
- De‑risking a flagship low‑carbon project – Long‑term contracted power reduces earnings volatility from spot electricity prices.
- Signalling commitment to transition – The deals reinforce Shell’s narrative that future cash flows will come not just from hydrocarbons but from integrated energy and hydrogen value chains.
- Regulatory alignment – REFHYNE 2 is designed to fit within evolving EU rules on renewable hydrogen, and has received EU funding support, improving its strategic importance relative to smaller pilots. Renewable Watch
While today’s share price move in London is modest, the news supports the medium‑term case that Shell’s valuation should reflect both its traditional oil & gas earnings and an increasingly visible pipeline of low‑carbon projects.
Ongoing Share Buybacks: Fresh Details Published Today
Another key factor underpinning Shell’s share price is its aggressive share buyback programme.
19 November buyback disclosed on 20 November
A new regulatory announcement, republished by several outlets today, confirms that on 19 November 2025 Shell repurchased substantial blocks of its own shares for cancellation. Taiwan News
According to the disclosure:
- On the London Stock Exchange (LSE), Shell bought back 741,247 shares at prices between £27.79 and £28.54 per share, with a volume‑weighted average price just over £28.09.
- On Euronext Amsterdam (XAMS), it repurchased 738,085 shares at roughly €31.65 – €32.51, with an average cost near €31.99.
These purchases are part of the on‑ and off‑market limbs of a previously announced buyback programme running from 30 October 2025 to 30 January 2026, under which Merrill Lynch International executes trades independently within pre‑set parameters, in line with EU and UK market‑abuse regulations. Taiwan News
Bigger picture: a sustained capital‑return story
Shell has been steadily shrinking its equity base through buybacks for several quarters. Earlier RNS filings and market commentary point to multiple prior tranches, often in the range of 700k–1.4m shares per day across European exchanges. Stock Titan
Alongside buybacks, Shell is returning cash via regular dividends. The company recently declared a third‑quarter 2025 interim dividend of US$0.358 per ordinary share (equivalent to US$0.716 per ADS), with an ex‑dividend date around 13–14 November and payment scheduled for 18 December 2025. Shell
For UK investors, Hargreaves Lansdown currently estimates Shell’s dividend yield near 3.8–3.9%, based on the latest payout. Hargreaves Lansdown Combined with the ongoing buybacks, this capital‑return profile helps support the share price even in periods of softer commodity prices.
Analyst Ratings and Institutional Interest on 20 November 2025
Fresh research and fund‑flow headlines today add another supportive layer to Shell’s investment case.
Consensus rating: “Moderate Buy”
MarketBeat reports that Shell’s New York‑listed unsponsored ADR (NYSE: SHEL) carries a consensus rating of “Moderate Buy” from 21 analysts: ten “buy”, nine “hold” and two “strong buy”. The average 12‑month price target sits around $79.91 per ADR. MarketBeat
While that target is quoted for the US‑traded security, it implies room for upside relative to current levels and reflects broad analyst confidence in Shell’s cash‑generation and balance‑sheet strength.
A German sector overview on FinanzNachrichten similarly shows Shell’s European listing with an average target price around €35.24 compared with a spot level near €32.14, indicating roughly 10% upside based on that sample of analyst estimates. Finanznachrichten
New institutional buying disclosed
Also today, MarketBeat highlighted a new 13F filing from Alteri Wealth LLC, which has initiated a position of about 3,660 shares in Shell’s ADR, worth approximately $258,000 at the time of the filing. MarketBeat
The same article notes that a range of other institutional investors have been adding to positions over recent quarters, with hedge funds and asset managers collectively holding just under 30% of Shell’s outstanding shares. MarketBeat
Large‑cap energy names like Shell are core holdings for many income and value funds, and continued institutional demand can help stabilise the share price around key technical levels.
Macro Backdrop: Oil, FTSE 100 and Risk Sentiment
Shell’s daily share price never moves in isolation. Three macro drivers stand out today:
- Oil prices – After a sharp drop on Wednesday, Brent crude futures recovered slightly, trading around the mid‑$60s per barrel and finishing Thursday up around 0.5–0.7%. Investing
- Concerns over oversupply and demand remain, but short‑term price action was mildly supportive for energy stocks.
- FTSE 100 performance – The UK benchmark index gained roughly 0.5%, aided by global risk‑on sentiment following a strong earnings update from US chipmaker Nvidia, which boosted equities across Europe. The Guardian
- Broader rate and growth expectations – With markets still focused on central‑bank trajectories and economic data, high‑dividend, cash‑generative companies like Shell often attract investors looking for a blend of income and inflation protection.
In that context, Shell’s 0.47% gain today roughly tracked, but slightly underperformed, the broader FTSE 100 advance, as the stock continues to balance cyclical oil & gas exposure with long‑dated transition projects.
Valuation Snapshot: Is Shell Share Price Cheap or Fairly Valued?
Based on Hargreaves Lansdown’s snapshot at today’s close, Shell’s London‑listed shares trade at: Hargreaves Lansdown
- P/E ratio: about 9.7
- Dividend yield: around 3.8–3.9%
- Market cap: roughly £160.8bn
For comparison, many FTSE 100 peers with similar yields and buyback programmes trade on mid‑to‑high‑teens P/E multiples, pointing to a still‑modest valuation for Shell relative to its cash‑generation profile (though sector‑ and risk‑specific factors always matter).
Analyst targets cited today — about $79.91 on the ADR side and €35.24 for the continental listing — both point to single‑digit to low‑double‑digit upside from current levels, assuming their underlying oil‑price and earnings assumptions hold. MarketBeat
What to Watch Next for Shell plc Investors
Looking beyond today’s modest move in the Shell share price, several catalysts could influence the stock in coming weeks:
- Execution of the REFHYNE 2 project
- Timely construction and commissioning of the 100 MW electrolyser at Rheinland.
- Further detail on offtake partners and potential revenue contribution from renewable hydrogen. Hydrogen Europe
- Continuation of share buybacks
- Daily RNS reports will show whether Shell continues to repurchase at similar volumes and at what price bands, which can provide a de‑facto floor for the share price in weaker markets. Taiwan News
- Progress on debt exchange offers
- Earlier this week, Shell announced early participation results in an exchange offer to migrate legacy notes into new Shell Finance US instruments, aiming to optimise its capital structure and slightly extend maturities. GlobeNewswire
- Oil‑price trajectory and macro data
- Any sustained move in Brent crude away from the low‑to‑mid‑$60s range will feed quickly into market expectations for Shell’s 2026 cash flow. Investing
- Regulatory and climate‑policy signals
- EU decisions on hydrogen standards and UK fiscal or regulatory changes for North Sea production could influence Shell’s mix of legacy and transition projects.
Quick Q&A: Shell Share Price Today (20 November 2025)
What is the Shell plc share price today on the London Stock Exchange?
At the close on 20 November 2025, Shell plc (LON: SHEL) finished at 2,806.5p, up 0.47% on the day. Hargreaves Lansdown
How does that compare to Shell’s 52‑week high and low?
Over the past year, Shell’s London‑listed shares have traded roughly between 2,270p and 2,937.5p, placing today’s close somewhere in the upper half of that range. Hargreaves Lansdown
Why did Shell shares move today?
Today’s modest gain reflects a mix of:
- Positive sentiment around new renewable PPAs for the REFHYNE 2 hydrogen project in Germany. Hydrogen Europe
- Continued share buybacks disclosed in a fresh “Transaction in Own Shares” notice. Taiwan News
- A supportive analyst and institutional backdrop, with a consensus “Moderate Buy” rating and new institutional purchases reported today. MarketBeat
- A slightly firmer oil price and a higher FTSE 100. Investing
Is this investment advice?
No. This article is for information and news purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Investors should consider their own circumstances and, if needed, consult a regulated financial adviser.
