ConocoPhillips is doubling down on its bet that moderating spending and growth in favor of returning cash to shareholders will get apathetic investors excited about the company again. The Houston-based independent is extending a $1.5 billion annual share buyback for another year, which will carry it through 2020, while keeping production growth at a modest 5% with capital spending averaging $5.5 billion over the period - a bit less than expected by analysts.
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