Phillips 66, HF Sinclair and Eni Expand Share Buybacks as Oil Stays Elevated

Zacks Investment Research··USIT·Read original
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Summary · why it matters

Phillips 66, HF Sinclair and Eni have each strengthened their share repurchase programs, with all three carrying a Zacks Rank #1 (Strong Buy) as Brent recently climbed above $105 per barrel and WTI approached $95 amid Middle East supply concerns. Phillips 66's board approved a $10 billion increase to its share repurchase authorization on July 29, 2026, as the remaining authorization under its existing program approached its limit. HF Sinclair refreshed its capital-return strategy on Aug. 26, 2026, with a new $1.5 billion share repurchase program that replaced all existing repurchase programs, under which approximately $11 million remained. Eni expanded its 2026 share buyback plan in July to €3.4 billion from the previously revised €2.8 billion, a 20% increase and more than double its initial €1.5 billion guidance, citing strong execution and the market environment. The elevated oil prices come as U.S.-Iran ceasefire talks remain deadlocked, prolonging uncertainty around the Strait of Hormuz, though recovering regional exports and Saudi Arabia's restored East-West pipeline have tempered some price gains.

Impact on assets 3

Synthetic Biology (non-pharma)▲ · 2 stocks
HF Sinclair Corp
DINO
▲ PositiveCapitalrelevance

HF Sinclair refreshed its capital-return strategy with a new $1.5 billion share repurchase program replacing all existing buybacks.

Phillips 66
PSX
▲ PositiveCapitalrelevance

Phillips 66's board approved a $10 billion increase to its share repurchase authorization on July 29, 2026.

Energy▲ · 1 stocks
Eni S.p.A.
ENI
▲ PositiveCapitalrelevance

Eni expanded its 2026 share buyback plan to €3.4 billion from €2.8 billion, a 20% increase.

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