The Oil & Gas Journal, first published in 1902, is the world's most widely read petroleum industry publication. OGJ delivers international oil and gas industry news; analysis of issues and events; practical technology for design, operation, and maintenance of oil and gas operations; and important statistics on energy markets and industry activity.

OGJ is edited to meet the needs of engineers, geoscientists, managers, and executives throughout the oil and gas industry. It is part of Endeavor Business Media, Nashville, Tenn., which also publishes Offshore Magazine.

Endeavor Business Media’s Petroleum Group also produces targeted e-Newsletters; hosts global conferences and exhibitions, seminars, and forums; and publishes directories, technical books, print and electronic databases, surveys, and maps.

Additional Information

Website & Technical Help

For help with subscription purchases or refunds, or trouble logging into the paid subscription content on www.ogj.com, please contact Customer Service at [email protected] or call 1-847-559-7598.

For more customer service information, please click here.

CBRE Announces Expanded $5 Billion Stock Repurchase Authorization

CBRE Group, Inc. (NYSE: CBRE) today announced that its Board of Directors has approved an expanded authorization for the repurchase of up to an additional $5 billion of shares.

The expanded authorization is in addition to the existing $4 billion stock repurchase authorization, which had approximately $1.4 billion remaining as of September 30, 2024.

“Share repurchases are a key part of our capital allocation strategy. The expanded authorization is particularly timely given that we believe our shares’ current valuation understates our long-term growth prospects,” said Emma Giamartino, chief financial officer of CBRE.

“We ended the third quarter in exceptionally strong financial position with more than $4 billion of liquidity, low leverage and free cash flow that is on track to exceed $1 billion this year. Supported by our highly resilient and diversified business model, CBRE is very well placed to sustain strong earnings and free cash flow growth well into the future.”

Since 2021, CBRE has repurchased 36 million shares for approximately $3 billion at a weighted average price of approximately $83.50 per share.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. We routinely post important information on our website, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website at https://ir.cbre.com. Accordingly, investors should monitor such portion of our website, in addition to following our press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.