Barclays Tracker on European Energy Cos Buybacks

Investing.com -- Barclays released a tracker monitoring share repurchase programs among European integrated energy companies following second-quarter results, showing several firms adjusting their buyback plans.

Eni increased its targeted buyback for 2026 to €3.4 billion from €2.8 billion previously announced. The company aims to distribute 35% to 45% of cash flow from operations through dividends and buybacks.

Repsol raised its buyback for the second half of 2026 to €500 million, bringing the total buyback for 2026 to €850 million. The company plans to announce a third buyback program in October and intends to return 30% to 40% of cash flow from operations.

Shell (LON:SHEL) will buy back $3.0 billion before its third-quarter 2026 results announcement. The company aims for shareholder distribution of 40% to 50% of cash flow from operations through the cycle.

TotalEnergies plans to buy back up to $1.5 billion for the third quarter of 2026, at the top of its $0.75 billion to $1.5 billion per quarter range for a Brent price of $60 to $70 per barrel for 2026. The company targets a payout of at least 40% of cash flow from operations through cycles.

Equinor increased its buyback for 2026 to $3.0 billion from $1.5 billion announced at its 2026 capital markets day. The company announced the third tranche of 2026 for buyback up to $1.125 billion.

Galp announced €250 million for 2026, with the company intending to return one-third of cash flow from operations to shareholders.

BP suspended its buyback and withdrew from its payout target of 30% to 40% of cash flow from operations. The company expects to increase its dividend per share by 4% per year.

OMV announced no buyback while aiming to distribute 50% of Borouge Group International dividends of $500 million attributable to OMV, plus 20% to 30% of operating cash flow excluding BGI dividends attributable to OMV when the leverage ratio remains below 30%.

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