Repsol launches €500 million share buyback, raising total to €850 million

Repsol announced a new share‑repurchase programme of up to €500 million, adding to a €350 million buyback completed earlier this week and bringing the total committed amount to €850 million. The company said it will seek approval for a third tranche in October to meet its goal of returning 30‑40 % of operating cash flow to shareholders.

The oil group posted first‑half 2026 results showing a net profit of €2.201 billion, a 265 % increase year‑on‑year, and an adjusted net profit of €2.711 billion, driven by higher crude prices amid Middle‑East supply tensions. Following the results, analysts lifted their price targets, with RBC raising its target to €35 per share and other banks such as Barclays, Berenberg, Goldman Sachs, Citi and Santander setting targets between €30 and €32, suggesting a potential upside of close to 40 % from current levels.