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Shell (UK) ( (GB:SHEL) ) has shared an announcement.
Shell plc has announced that it will amend its 2023 and 2024 Form 20-Fs due to Ernst & Young LLP’s non-compliance with SEC auditor independence rules, specifically related to audit partner rotation. Despite this amendment, the financial statements for these years remain unchanged, and the EY audit opinions are still unqualified. The change comes after EY advised Shell’s Audit and Risk Committee that its previous US audit opinions should not be relied upon due to the lead audit partner exceeding the rotation period allowed by SEC rules. EY has since assigned a new lead audit partner and confirmed that no changes to the financial statements are necessary, ensuring the integrity of Shell’s financial reporting remains intact.
The most recent analyst rating on (GB:SHEL) stock is a Hold with a £27.75 price target. To see the full list of analyst forecasts on Shell (UK) stock, see the GB:SHEL Stock Forecast page.
Spark’s Take on GB:SHEL Stock
According to Spark, TipRanks’ AI Analyst, GB:SHEL is a Outperform.
Shell’s robust financial performance and strategic initiatives in shareholder returns through buybacks and dividends boost its appeal. Despite some challenges in revenue growth and certain sectors, its financial stability and strategic direction contribute significantly to a strong overall score.
To see Spark’s full report on GB:SHEL stock, click here.
More about Shell (UK)
Shell plc is a leading global energy company involved in the exploration, production, refining, and marketing of oil and natural gas. The company is also investing in renewable energy sources and technologies as part of its commitment to sustainable energy solutions.
Average Trading Volume: 10,998,572
Technical Sentiment Signal: Buy
Current Market Cap: £152.4B
For detailed information about SHEL stock, go to TipRanks’ Stock Analysis page.