Sources familiar with Shell’s strategic review indicate the company has approached potential buyers for its assets in Argentina’s Vaca Muerta basin over recent weeks. The move would mark a significant retreat from one of the world’s largest unconventional gas and oil formations. Shell’s Vaca Muerta interests include tight gas and light oil acreage across multiple concession blocks. Exiting this play could free up capital for higher-return projects elsewhere, though it may also reduce the company’s exposure to Latin American growth opportunities and renewable transition efforts in the region.

Shell is scheduled to release its fourth-quarter results before markets open on January 29, 2026. Analysts forecast earnings per share of 1.37 for the period. In the prior quarter, Shell reported earnings of 1.86 per share, exceeding consensus by 0.14, on revenues of 68.15 billion, compared to analysts’ estimate of 70.50 billion. The company achieved a net margin of 5.34% and a return on equity of 10.49%. Consensus estimates for the full fiscal year project earnings per share of 8.00, matching forecasts for the following year, underscoring investor focus on stable cash-flow generation.

In December, Shell paid a quarterly dividend of 0.716 per share, representing an annualized payout of 2.86 and a yield of 3.9%. The company’s dividend payout ratio stands at 58.61%, reflecting a balance between shareholder returns and reinvestment in major capital projects, including LNG expansion. Institutional investors have been active: Brighton Jones LLC increased its stake by 51.7% to 7,463 shares, AQR Capital Management LLC lifted its holdings by 70.1% to 32,564 shares, and Captrust Financial Advisors added 7,179 shares, up 5.5%, to a total of 137,086. These moves highlight continued confidence among large investors in Shell’s dividend-driven total return profile.