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ConocoPhillips to Restart Share Buyback Program, Plans a $1 Billion Repurchase in Q4

Matthew DiLallo, The Motley Fool
·2 min read
ConocoPhillips to Restart Share Buyback Program, Plans a $1 Billion Repurchase in Q4

ConocoPhillips (NYSE: COP) announced today that it intends to resume its share repurchase program in the fourth quarter. The oil company had previously suspended buybacks in April as it slashed spending and production to combat a significant decline in oil prices. ConocoPhillips anticipates repurchasing $1 billion of stock during the fourth quarter using the available cash on its balance sheet, which stood at $7.2 billion at the end of the second quarter.

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