Total (TOT) - Get Report posted solid fourth-quarter earnings and boosted its dividend as the France-based oil major said it would seek to buy assets in the coming year as global energy markets heat up.

Adjusted net profit for the three months ending in December rose 16% to $2.4 billion from the same period last year, the company said, even as full-year net income declined 22% on the year to $6.2 billion. The group described the performance as coming in a "difficult" environment" of fluctuating oil prices but said its integrated business model allowed it to deliver "the highest profitability among the majors."

The company said it both raise its fourth quarter dividend 1.6% to €0.62 per share and said it would look for buying opportunities in the industry given the strength of its balance sheet.

"After two years of very low prices, there are companies around the world that have good assets but are struggling," said CEO Patrick Pouyanne. "It is left to us to chose good assets that are of interest to us."

Total shares closed at €46.83 each in Paris Wednesday and have gained around 8.4% over the past three months, lagging the 10.7% gain for the Stoxx Europe 600 Oil & Gas Index but firmly ahead of the 0.541% loss for rival BP (BP) - Get Report and the 1.8% advance for Royal Dutch Shell (RDS.A) () .

Earlier this week, BP said earnings per share came in at 13 cents, firmly higher than the 6 cents recorded in the final three months of 2015 but shy of the 16 cents total forecast by analysts. Revenue for the period was just over $51 billion, the company said, up 3.7% from the year-ago period but short of the consensus estimate of $54.7 billion. The quarterly dividend will remain unchanged at 10 cents per share, the company said.