Shell (NYSE:SHEL) +3.2% in Thursday's trading despite missing Q4 earnings and revenue estimates, weighed by weaker oil and gas prices and demand, but the company increased shareholder returns in a sign of confidence in its strategy of refocusing on its most profitable sectors.

Shell reported a 16% drop in profit for 2024 on Thursday amid weakness in oil and gas prices and in demand, but shares rose after it raised its dividend by 4%. The oil major also announced a $3.5 billion share buyback for the current quarter,

Shell plc (NYSE:SHEL) shares are trading higher following fourth-quarter results. Revenue of $66.28 billion missed the consensus of $71.82 billion. Total production at Integrated Gas fell 4% quarter over quarter (Q/Q) to 905 kboe/d,

Shell has increased its dividend to shareholders despite profits falling last year, after the energy giant was hit by weaker oil prices and lower demand for the fossil fuel.