Shell Maintains Buybacks as Gas Growth Offsets Weaker Oil [Yahoo! Finance Canada]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance Canada
(Bloomberg) -- Shell Plc kept up the pace of its share buybacks after profit fell less than expected amid rising sales volumes of natural gas. Most Read from Bloomberg It's the latest major oil company to maintain healthy investor returns despite reporting weaker earnings, with the outlook for the global economy deteriorating just as supply becomes more abundant. The company repurchased $3.5 billion of shares in the third quarter, matching the prior period. “Today, we announce another $3.5 billion buyback program for the next three months, making this the 12th consecutive quarter in which we have announced $3 billion or more in buybacks,” Chief Executive Officer Wael Sawan said in a statement on Thursday. Maintaining the flow of cash to investors has been a crucial part of Big Oil's appeal, and companies have been punished for wavering in that commitment. Shell's closest rival BP Plc fell 5% on Tuesday after it signaled a possible reduction in its share repurchases next year,
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BP
News
- Navigating Activists And Hostile Takeovers: When To Engage, When To Defend [Forbes]Forbes
- Shell blames lower oil prices, weaker margins and ‘accounting mismatch' for slump in third-quarter profits [Fortune]Fortune
- Shell Maintains Buybacks as Gas Growth Offsets Weaker Oil [Yahoo! Finance]Yahoo! Finance
- Shell profits fall to $6bn in the third quarter but beat forecasts [Yahoo! Finance]Yahoo! Finance
- Oil giant Shell posts small drop in third-quarter profit to $6 billion, beating expectations [CNBC]CNBC
BP
Earnings
- 10/30/24 - Beat
BP
Sec Filings
- 10/29/24 - Form 6-K
- 10/29/24 - Form 6-K
- 10/11/24 - Form 6-K
- BP's page on the SEC website