0955 GMT - Shell PLC is among the most mentioned topics across news items over the past three hours, according to Factiva data, after the energy giant reported a record profit for last year on soaring energy prices, alongside a new $4 billion share buyback. The oil-and-gas giant posted a 2022 profit of $41.6 billion, smashing both its previous record and market expectations. It also generated adjusted earnings of $9.81 billion in the final quarter, beating a market consensus of $7.97 billion and the $9.45 billion generated the third quarter. Shareholders will be pleased with the multi-billion-dollar buyback, though the results will likely intensify demand for further windfall taxes, AJ Bell investment director Russ Mould wrote. "Shell needs to be careful, already oil and gas prices have retreated from their 2022 highs and if it pursues profit today at the expense of making the business sustainable for the future it may be judged harshly by the markets," Mould said. RBC Capital Market said Shell's fourth-quarter results--with nearly $6 billion in integrated gas earnings--confirm previous reassurances that its third-quarter disappointment wasn't structural. The results cap off a particularly strong year for the liquid natural gas business on unprecedented volatility, RBC said in a note. Dow Jones & Co. owns Factiva. (joseph.hoppe@wsj.com)

(END) Dow Jones Newswires

February 02, 2023 05:10 ET (10:10 GMT)

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