Chevron (NYSE: CVX) recently grabbed headlines by unveiling a massive $75 billion share repurchase program. Exxon Mobil (NYSE: XOM) has also gotten attention for its sizable repurchase program that will see it buy back as much as $35 billion of its stock over the next two years. Those programs are extensions of the oil companies' long track records of buying back their stock.

However, Marathon Oil (NYSE: MRO) and Marathon Petroleum (NYSE: MPC) are beating the energy giants at the buyback game by a wide margin. Because of that, their buybacks are creating more value for investors.

Chevron spent $11.25 billion to repurchase 70 million shares last year. Chevron accelerated its repurchase rate throughout the year, ending 2022 on pace to buy back stock at a $15 billion annual rate. That was by far its biggest buyback over the last two decades:

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Source Fool.com