Shell Holds 5.64B Shares Outstanding; Barclays Forecasts 40% Q1 Profit Surge
Shell plc’s share capital stands at 5,638,556,417 ordinary shares of €0.07 each, including shares held in its buy-back program not yet canceled. Barclays predicts European energy earnings will surge over 40% q/q in Q1 with FY26 forecasts 30% ahead of consensus, supported by Brent’s 22% q/q rise.
1. Total Voting Rights and Share Capital
As of March 31, 2026, Shell plc has 5,638,556,417 ordinary shares of €0.07 each outstanding, with no treasury shares. This figure includes shares purchased under the company’s ongoing buy-back program that have yet to be canceled and serves as the denominator for FCA notification thresholds.
2. Barclays Forecasts European Energy Earnings Surge
Barclays projects European energy earnings will jump over 40% quarter-on-quarter in Q1, with FY26 consensus beating forecasts by 30%, driven by a 22% rise in Brent crude to $77 per barrel and stronger refining margins. Shell’s exposure to Qatar’s GTL operations positions it to benefit from higher crude and natural gas prices and potential trading gains.