Market movers: Stocks seeing action on Friday - and why

) was lower on news its set to France’s TotalEnergies an extra 6.65-per-cent stake in the Fort Hills Energy Limited Partnership and associated sales and logistics agreements for $312-million .

It says the acquisition of an additional interest in Fort Hills helps build TotalEnergies EP Canada for the future.) pulled back on Friday after it posted a record US$36.5-billion profit for 2022 that was more than double year-earlier earnings but fell shy of Wall Street estimates, undercut by an asset writedowns and a retreat in oil and gas prices.

Industry earnings already have put energy stocks at the top of market returns as companies lift their payouts to shareholders. The latest figures could stir fresh calls for windfall taxes.protested against Chevron’s decision to triple the budget to buy back its own stock Chevron last year paid US$26-billion in dividends and buybacks to shareholders and invested US$15.7-billion. Chevron says it is raising capital expenditure to US$17-billion in 2023, two thirds of it in the United States, where output is up 4%.

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