TotalEnergies to consider smaller stock buybacks in 2026

[Exterior view of the headquarters of the oil company TotalEnergies, formerly known as Total]
HJBC/iStock Editorial via Getty Images

TotalEnergies (NYSE:TTE [https://seekingalpha.com/symbol/TTE]) said Wednesday it will consider reducing [https://seekingalpha.com/pr/20243364-the-board-of-directors-of-totalenergies-confirms-the-relevance-and-progress-of-the-company-s] the pace of its share buyback program next year, citing an uncertain economic and geopolitical environment.

TotalEnergies (NYSE:TTE [https://seekingalpha.com/symbol/TTE]) said its board has approved quarterly stock buybacks of between $750 million and $1.5 billion for FY 2026, assuming Brent crude prices at $60-$70/bbl and a dollar-euro exchange rate at ~1.2, compared with $1.5 billion in buybacks authorized for Q4 2025 - down from $2 billion in recent quarters - resulting in $7.5 billion of share buybacks for FY 2025.

The adjusted pace reflects hydrocarbon prices, refining and petrochemical margins and the U.S. dollar-to-euro exchange rate, the company said.

The board also confirmed the company's priority of preserving a strong balance sheet and retaining maneuverability by maintaining a gearing ratio below 20%, while maintaining its shareholder return policy of at least 40% of annual cash flow from operations through cycles and reaffirming the dividend as a priority in a low cycle environment.

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* TotalEnergies: A Company In Transition Towards A Green Agenda [https://seekingalpha.com/article/4816438-totalenergies-a-company-in-transition-towards-a-green-agenda]
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