Factbox-Bumper profits fuel surge in dividends, buybacks at oil firms

　　Factbox-Bumper profits fuel surge in dividends, buybacks at oil firms

　　(Reuters) – Energy firms are using a chunk of their bumper quarterly profits from surging natural gas and fuel prices to reward shareholders with higher dividends and share buybacks.

　　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

　　Dividend: Increased quarterly dividend by 4.1% to $1.02 per share

　　Net Income in latest quarter: More than tripled to $3.11 bln

　　Exxon mobil corp

　　Dividend: Q4 per-share dividend of 91 cents, up 3 cents

　　Net Income in latest quarter: Jumped 191.2% to $19.66 bln

　　Chevron corp

　　Dividend: Q4 per-share dividend of $1.51, up 9 cents

　　Share buyback: Raised existing share repurchase authorization by $50 bln

　　Net Income in latest quarter: Jumped 89.6% to $10.78 bln

　　Conocophillips

　　Dividend: 11% increase to quarterly ordinary dividend

　　Share buyback: Raised existing share repurchase authorization by $20 bln

　　Net Income in latest quarter: Rose 87.5% to $4.5 bln

　　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: Net loss of $17 mln on restructuring charges, compared to a profit of $8 mln a year earlier

　　SLB (formerly Schlumberger)

　　Dividend: To raise quarterly dividend by 43% next year

　　Share buyback: To resume a share repurchase program

　　Net Income in latest quarter: Rose 65% to $907 mln

　　Marathon petroleum corp

　　Dividend: Increased dividend by 30% to 75 cents/shr

　　Share buyback: Expects to commence share repurchases in November using the remaining $5 bln authorization

　　Net Income in latest quarter: Rose 545% to $4.5 bln

　　Phillips 66

　　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 bln

　　Marathon oil corp

　　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 mln

　　Eog resources inc

　　Dividend: Raised regular dividend by 10%, $1.50/shr special dividend

　　Net Income in latest quarter: Rose 160.6% to $2.85 bln

　　Apa corp

　　Dividend: Doubled quarterly dividend to an annualized rate of $1.00/shr

　　Net Income in latest quarter: Stood at $422 mln, compared with a loss of $113 mln

　　Coterra energy inc

　　Dividend: Increased dividend by 3 cents to 68 cents/shr

　　Net Income in latest quarter: Surged 1768.75% to $1.2 bln

　　PATTERSON-UTI

　　Dividend: Doubled quarterly cash dividend to 8 cents/shr

　　Share buyback: Increased share repurchase authorization to $300 mln

　　Net Income in latest quarter: Rose 181% to $61.5 mln

　　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 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

　　(Reporting by Sourasis Bose, Ankit Kumar and Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila)

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