As earnings season wraps up, traders can take advantage of these buyback champions, which are shrinking their stock count and are beloved on Wall Street. More than 460 companies in the S&P 500, or about 92%, have reported earnings, according to FactSet. Of these, 78% reported positive surprises. For investors, that means the buyback window is reopening, as companies typically wait a few days after reporting earnings to buy back their own shares. Buybacks mean a lot to investors because buybacks typically mean higher value per share. CNBC Pro screens buyback champions that are trimming their share count and are seen by analysts as buying opportunities. These are their characteristics. Common shares outstanding have declined by at least 2% over the past year Total debt as a percentage of capital is 50% or lower and at least 55% of analysts have Buy ratings on it With that in mind, here are 11 names surfaced. Facebook parent company Meta Platforms appears on the list. Common shares outstanding have declined 5.3% over the past year, and the social media company’s total debt-to-capital percentage is just 18%. 63% of analysts see this as a buying opportunity for the stock. Analysts gave Meta a thumbs-up after its recent quarterly results topped expectations, as well as daily active user forecasts. Wall Street firms including Goldman Sachs and Morgan Stanley raised their price targets and pointed to growth in the firm’s artificial intelligence business. Energy company ConocoPhillips also makes our list. Common shares outstanding have declined 6.4% over the past year. As a percentage of capital, the company’s total debt is approximately 25%. More than 66% of analysts approve of the stock. In fact, Goldman Sachs said in a note this week that Conoco remains the top pick among the big three U.S. oil majors, citing better-than-expected first-quarter production figures. “We are constructive on COP’s commitment to shareholder returns, which the company reiterated on its recent earnings call through 2023 (expected return on capital in 2023 of approx. 9%).” Chubb was on the list. The company’s common stock outstanding has declined 2.7% over the past year, while the company’s total debt-to-capital ratio is nearly 24%. Last month, Citi upgraded Chubb to buy from neutral, saying it likes the property and casualty insurer because of its “relative lack of balance sheet risk.” Other stocks that appeared on the list were MetLife and Analog Devices.
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