Chevron Corporation (CVX) Releases Earnings Results, Misses Expectations By $-0.23 EPS

Chevron Corporation (CVX) reported quarterly earnings results on Friday, Apr-29-2016. The company reported $-0.39 earnings per share for the quarter, missing the analyst consensus estimate by $-0.23. Analysts had a consensus of $-0.16. The company posted revenue of $23533.00 million in the period, compared to analysts expectations of $22735.35 million. The company’s revenue was down -31.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

Many Wall Street Analysts have commented on Chevron Corporation. Company shares were Reiterated by Barclays on Apr 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 97 from a previous price target of $89 .Chevron Corporation was Downgraded by Raymond James to ” Mkt Perform” on Mar 22, 2016. Chevron Corporation was Initiated by Nomura to “Neutral” on Mar 18, 2016.

Chevron Corporation opened for trading at $102.9 and hit $103.94 on the upside on Wednesday, eventually ending the session at $103.85, with a gain of 1.53% or 1.56 points. The heightened volatility saw the trading volume jump to 83,83,591 shares. Company has a market cap of $195,566 M.

In a different news, on Nov 20, 2015, Patricia E Yarrington (VP & Chief Financial Officer) sold 44,000 shares at $92.05 per share price. According to the SEC, on Nov 3, 2015, Joseph C Geagea (Executive Vice President) sold 14,000 shares at $95.11 per share price. On Aug 11, 2015, Charles W Moorman (director) purchased 5,950 shares at $83.74 per share price, according to the Form-4 filing with the securities and exchange commission.

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates. The Company operates through two segments: Upstream and Downstream. Upstream operations consist primarily of exploring for developing and producing crude oil and natural gas; processing liquefaction transportation and regasification associated with liquefied natural gas (LNG); transporting crude oil through international oil export pipelines; transporting storing and marketing natural gas and operating a gas-to-liquids plant. The Company’s Downstream operations primarily consist of refining crude oil into petroleum products; marketing crude oil and refined products; transporting crude oil and refined products by pipeline marine vessel motor equipment and rail car and manufacturing and marketing commodity petrochemicals plastics for industrial uses and fuel and lubricant additives.

Chevron Corporation

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