Chevron Reports Higher Profits; Beats Expectations (CVX)
Energy company, Chevron Corporation(CVX) reported increased Q4 profits, beating estimates on Friday.
The San Ramon, CA based company reported fourth quarter profits of $7.2 billion, or $3.70 per share, up from $5.1 billion, or $2.58 per share last year. Analysts expected to see EPS of $3.04 per share.
Revenue came in at $60.55 billion, up from $59.98 billion last year. Analysts expected $68.64 in revenue.
The company saw a decline in upstream earnings, which were partially offset by increased crude oil production. U.S Downstream operations also increased during the quarter.
Chevron shares were mostly flat during premarket trading Friday. The stock has increased 12% in the past year.
The Bottom Line
Shares of Chevron Corporation(CVX) have a 3.13% yield, based on Thursday’s closing price of $115.15.
Chevron Corporation(CVX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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