ConocoPhillips Board Raised Stock Buyback Authorization By Up To $20B
Portfolio Pulse from Benzinga Newsdesk
ConocoPhillips' Board of Directors has approved an increase in the company's share repurchase authorization by up to $20 billion.
October 31, 2024 | 11:05 am
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ConocoPhillips has increased its stock buyback authorization by $20 billion, indicating strong financial health and a commitment to returning value to shareholders.
The increase in stock buyback authorization suggests that ConocoPhillips is confident in its financial position and is focused on enhancing shareholder value. This move is likely to positively impact the stock price in the short term as it reduces the number of shares outstanding, potentially increasing earnings per share.
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