ExxonMobil vs. ConocoPhillips: Which Oil Major's Stock Buybacks Will Actually Move the Needle?

Key Points ExxonMobil has committed a greater amount of capital toward its dividends and stock buybacks. ConocoPhillips' capital-return plans will likely provide a greater boost for its stock. Both companies have riskier but stronger catalysts related to variables such as cost cuts and expanded efforts in exploration and production. 10 stocks we like better than ConocoPhillips › It's common for major oil companies to allocate a large portion of their free cash flow to "return of capital" activities such as dividends and share repurchases. Take, for example, ExxonMobil (NYSE: XOM) and ConocoPhillips (NYSE: COP) . Both have committed to stock buyback plans.