编者注：本文已更新，列出了公司前 20 笔最大的回购交易。

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根据标普全球 6 月 14 日发布的数据，能源板块第一季度的股息和股票回购综合收益率领先于标普 500 指数和所有其他板块。

能源行业的综合收益率为8.36%，其次是通信服务行业，为6.2%。标准普尔 500 指数的总体收益率为 4.05%。

对于石油和天然气公司来说，回报不断到来。壳牌6月14日上午宣布，将把每股股息提高预期的15%，并在2023年下半年开始至少150亿美元的股票回购。

尽管石油和天然气行业在收益率方面遥遥领先，但该行业仍然落后。瑞士信贷董事总经理蒂姆·佩里(Tim Perry)上个月在德克萨斯州沃思堡举行的 SUPER DUG 会议上表示，该行业在标准普尔指数中的占比约为 5%。

标准普尔全球第一季度的数据是能源公司向投资者提供积极现金回报和持续资本纪律的最新证据，因为勘探与生产公司试图吸引投资者重返该行业。

Benchmark 能源分析师苏巴什·钱德拉 (Subash Chandra) 认为这是一个令人鼓舞的迹象，表明能源公司正在适应当前周期。

“保持现金回报、减少资本支出是一个行业正在适当应对经济低迷的健康迹象。对于提升行业信誉和估值而言，下行周期响应可以说比上行周期更重要。”钱德拉告诉哈特能源公司。

3家能源公司跻身第一季度回购股票前20名的公司之列。根据标准普尔全球数据，埃克森美孚公司回购了 43 亿美元的股票，雪佛龙公司回购了 36 亿美元的股票，马拉松石油公司则回购了近 32 亿美元的股票。

南卫理公会大学金融学教授 Don Shelly 表示，能源行业股票购买的基础广泛，这一点很重要。

“雪佛龙、埃克森美孚和西方石油公司、勘探与生产公司、炼油商和营销商等综合石油公司在第一季度都进行了大量股票回购，”他说，“这可能表明预计价格和利润率将在今年保持稳定。”今年剩下的时间。”

Editor's note: This is article has been updated with a list of the top 20 largest buybacks by company.

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The energy sector led the S&P 500 and every other sector in combined yields of dividends and stock buybacks in the first quarter, according to S&P Global figures released on June 14.

The energy sector’s combined yields were 8.36%, trailed by the communication services sector in second place at 6.2%. Overall yields for S&P 500 were 4.05%.

For oil and gas companies, the returns keep coming. Shell announced on the morning of June 14 that it will raise dividend per share by an expected 15% and commence stock buybacks of at least $15 billion for the second half of 2023.

Despite the oil and gas industry’s commanding lead in yields, the sector continues to be a laggard. The industry’s representation on the S&P is roughly 5%, Tim Perry, managing director at Credit Suisse, said at last month’s SUPER DUG conference in Fort Worth, Texas.

S&P Global’s first quarter numbers are the latest evidence of energy companies’ aggressive cash return to investors and sustained capital discipline as E&Ps try to entice investors to return to the sector.

Subash Chandra, an energy analyst at Benchmark, took it as an encouraging sign that energy companies are hitting the right notes for the current cycle.

“Maintaining cash returns, reducing capex are healthy signs that an industry is navigating the downturn appropriately. Down cycle response is arguably more important than upcycles to bolstering industry credibility and valuation,” Chandra told Hart Energy.

Three energy companies were among the top 20 companies buying back stock in the first quarter. Exxon Mobil Corp. repurchased $4.3 billion in shares, Chevron Corp. repurchased $3.6 billion and Marathon Petroleum with nearly $3.2 billion, according to the S&P Global numbers.

Southern Methodist University finance professor Don Shelly said it is significant that the energy sector share purchases were broad based.

“The integrated oils, such as Chevron, ExxonMobil & Occidental, E&P, refiners and marketers all made large share repurchases in the first quarter,” he said “This probably indicates expectations that prices and margins are expected to be steady for the rest of the year.”