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The top 25 North American oil and gas companies by market capital posted a combined profit of $70.04 billion for the quarter ended Sept. 30, 186.3% higher than a year earlier, according to Refinitiv data.
However, the record profits have renewed calls for a windfall tax, especially as sky-rocketing prices have fueled inflation around the globe.
Below are some of the companies that have announced higher dividends and repurchases in recent weeks:
Valero Energy Corp (NYSE:VLO)
Dividend: Increased quarterly dividend by 4.1% to $1.02 per share
Net Income in latest quarter: More than tripled to $3.11 billion
Exxon Mobil Corp (NYSE:XOM)
Dividend: Q4 per-share dividend of 91 cents, up 3 cents
Net Income in latest quarter: Jumped 43.7% to $12.75 billion
Chevron Corp (NYSE:CVX)
Dividend: Raised quarterly dividend by 9 cents to $1.51 per share
Share buyback: Approves a $75 billion buyback program
Net Income in latest quarter: Jumped 25.6% to $6.35 billion
ConocoPhillips (NYSE:COP)
Dividend: Declares variable dividend of 60 cents per share
Share buyback: Raised existing share repurchase authorization by $20 billion
Net Income in latest quarter: Rose 23% to $3.2 billion
CHESAPEAKE ENERGY CORP
Dividend: Increased total quarterly dividend to $3.16/shr from $2.32/shr
Net Income in latest quarter: Stood at $883 mln, compared with $345 mln year-ago loss
BAKER HUGHES CO
Dividend: Increased quarterly dividend by 5.5% to 19 cents per share
Share buyback: Authorized an additional $2 bln
Net Income in latest quarter: Fell 38.1% to $182 million
SLB (formerly Schlumberger (NYSE:SLB))
Dividend: Increased quarterly cash dividend 43% to $0.25 per share
Share buyback: Resumed share repurchase program
Net Income in latest quarter: Rose 77.2% to $1.07 billion
Marathon Petroleum Corp (NYSE:MPC)
Share buyback: Approved an additional $5 billion in stock repurchases
Net Income in latest quarter: Rose 329.1% to $3.32 billion
Phillips 66 (NYSE:PSX)
Share buyback: Plans to return up to $12 bln more to shareholders by end-2024 through dividends and buybacks
Net Income in latest quarter: Jumped 1241% to $5.4 billion
Marathon Oil Corp (NYSE:MRO)
Dividend: Expects to raise base dividend by an additional 11% after closing the purchase of Ensign
Net Income in latest quarter: Climbed 344% to $817 million
EOG Resources Inc (NYSE:EOG)
Dividend: Raised regular dividend by 10%, $1.50/shr special dividend
Net Income in latest quarter: Rose 160.6% to $2.85 billion
APA Corp
Dividend: Doubled quarterly dividend to an annualized rate of $1.00/shr
Net Income in latest quarter: Stood at $422 million, compared with a loss of $113 million
COTERRA ENERGY INC
Dividend: Increased dividend by 3 cents to 68 cents/shr
Net Income in latest quarter: Surged 1768.75% to $1.2 billion
PATTERSON-UTI
Dividend: Doubled quarterly cash dividend to 8 cents/shr
Share buyback: Increased share repurchase authorization to $300 million
Net Income in latest quarter: Rose 181% to $61.5 million
TEXAS PACIFIC LAND CORP
Share buyback: Approved purchase of up to $250 mln worth of shares
Net Income in latest quarter: Rose 55% to $129.8 mln
CANADIAN NATURAL RESOURCES LTD
Dividend: Raised quarterly dividend by 13% to 85 Canadian cents/shr
Net Income in latest quarter: Rose 27.7% to C$2.81 bln
Cenovus Energy (NYSE:CVE) Inc
Dividend: Announced a variable dividend of C$0.114
Share buyback: Plans to renew repurchase program
Net Income in latest quarter: Climbed 192% to C$1.61 bln
IMPERIAL OIL
Dividend: Raised quarterly dividend by 29% to 44 Canadian cents/shr
Share buyback: Announced a C$1.5 bln substantial issuer bid to buy back shares
Net Income in latest quarter: Rose 123.6% to C$2.03 bln
TOURMALINE OIL CORP
Dividend: Announced a special dividend of C$2.25/shr; raised quarterly dividend by 11% to 25 Canadian cents/shr
Net Income in latest quarter: Rose 481% to C$2.09 bln
