Heat a large skillet over medium heat and add the olive oil and butter.
Once the butter is melted, add the shrimp to the skillet and season lightly with salt and pepper. Cook for 2-3 minutes per side until the shrimp turn pink and opaque. Remove shrimp from the skillet and set aside.
Pour in the chicken broth and scrape up any browned bits from the bottom of the skillet.
Add the heavy cream, Parmesan cheese, Italian seasoning, and red pepper flakes (if using). Stir well to combine and bring the mixture to a gentle simmer.
Let the sauce cook for 3-4 minutes, stirring occasionally, until it thickens slightly.
Return the cooked shrimp to the skillet and toss to coat them in the creamy garlic sauce.
Adjust seasoning with additional salt and pepper if needed.
Garnish with freshly chopped parsley and serve warm.
Notes
Serve with pasta, rice, or crusty bread for a complete meal. You can substitute chicken for shrimp if desired.