buyback

It said it still anticipates a strong result in business EPS, excluding share buybacks, expecting it to rise by a low-double-digit percentage at constant exchange rates.

In more recent years, the U.S. oil and gas producers have been careful not to expand production quickly and have focused on increasing dividends to shareholders and on stock buybacks.

Investors are also likely to see positively the share buyback after a period of weak performance, they say.

That will also help fund its base and variable dividend yield, which was 3.1% over the past year, as well as ongoing stock buybacks, under its late-2024 $1 billion repurchase authorization.

The company also doubled its share repurchase authorization to $6 billion in July, and shareholders will be watching whether it announces any buybacks.