Before Friday’s opening bell, Chevron (CVX ) released its fourth quarter financial results, posting lower profits.
CVX's Earnings in Brief
- Chevron reported Q4 earnings of $3.47 billion, or $1.85 per share, down from $4.93 billion, or $2.57 per share, last year.
- Revenue dipped to $46.09 billion from $56.16 billion.
- On average, analysts expected to see $1.63 per share in earnings and $30.65 billion in revenue.
Chairman and CEO John Watson commented: “Our 2014 earnings were down from the previous year, largely due to the sharp decline in crude oil prices. Improved downstream results and higher gains on asset sales related to our divestment program partially offset the effect of lower crude prices.”
CVX will pay its next quarterly dividend on $1.07 on March 10. The stock is going ex-dividend on February 12.
Shares of CVX were down 1.65, or 1.60%, during Friday morning trading. The stock is down 9.5% YTD.