Chevron Corporation (CVX) Releases Earnings Results, Misses Expectations By $-1.10 EPS

Chevron Corporation (CVX) reported quarterly earnings results on Friday, Jul-29-2016. The company reported $-0.78 earnings per share for the quarter, missing the analyst consensus estimate by $-1.10. Analysts had a consensus of $0.32. The company posted revenue of $29282.00 million in the period, compared to analysts expectations of $29649.73 million. The company’s revenue was down -27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Chevron Corporation. Company shares were Reiterated by Jefferies on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 114 from a previous price target of $110 .Company shares were Reiterated by UBS on May 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 104 from a previous price target of $90 .

Chevron Corporation closed down -0.47 points or -0.46% at $101.79 with 82,10,146 shares getting traded on Thursday. Post opening the session at $102.09, the shares hit an intraday low of $100.98 and an intraday high of $102.2192 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on May 4, 2016, Linnet F Deily (director) sold 869 shares at $103.27 per share price. According to the SEC, on Nov 20, 2015, Patricia E Yarrington (VP & Chief Financial Officer) sold 44,000 shares at $92.05 per share price. On Nov 3, 2015, Joseph C Geagea (Executive Vice President) sold 14,000 shares at $95.11 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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