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Shell CEO sells $5.2 million of shares – Metro US

Shell CEO sells $5.2 million of shares

FILE PHOTO: Royal Dutch Shell CEO van Beurden speaks during
FILE PHOTO: Royal Dutch Shell CEO van Beurden speaks during the 26th World Gas Conference in Paris

By Ron Bousso

LONDON (Reuters) -Shell Chief Executive Officer Ben van Beurden on Feb. 7 sold 3.9 million pounds ($5.2 million) worth of the energy company’s shares, a company filing showed.

The 190,000 shares were sold at an average prices of 20.40 pounds per share, a day before they hit their highest level since January 2020 at 20.80 pounds. The sale totalled 3.876 million pounds, according to the filing.

Shell shares traded at around 20.25 pounds at 1035 GMT on Thursday. Shell’s market capitalisation is around 155 billion pounds ($210 billion).

A Shell spokesperson said van Beurden’s decision to sell was “a private matter”.

Van Beurden, who has led Shell since 2014, said last Thursday that “I still believe that our shares are undervalued,” after the company reported bumper profits of $19.3 billion in 2021 on the back of high oil and gas prices. It also boosted its dividend and share repurchases.

($1 = 0.7369 pounds)

(Reporting by Ron Bousso Editing by Jason Neely and Mark Potter)

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