Chevron (CVX) reported an earnings miss for its 4th quarter, ending 12/31/2022. Earnings per share got here in at $4.09, versus the anticipated $4.33.
The reported income of $54.52 billion represents a lower of -14.07% in comparison with the earlier quarter, and development of 18.00% in comparison with the identical interval final 12 months.
For the 1st quarter, analysts mission earnings of $3.78 per share.
Typically, earnings bulletins have an effect on a inventory’s worth. See a historical past of earnings-related worth adjustments for CVX inventory.
What’s Subsequent for Chevron, Submit-Earnings?
In keeping with TipRanks, the common analyst consensus on CVX inventory is a Average Purchase. This consensus is predicated on 16 analyst scores made previously 3 months. Chevron’s common worth goal of $193.53 implies upside potential of seven.85% from present ranges.
See our Earnings Calendar for a full checklist of this week’s earnings releases.
Backside Line
An earnings miss can signify destructive motion forward for a inventory’s worth. At present, CVX worth is $179.45, indicating a 5-day drop of -0.80%.
About Chevron
Chevron Corp. engages within the provision of administrative, monetary administration, and expertise assist for vitality and chemical operations. It operates via the Upstream and Downstream segments. The Upstream phase consists of exploration, improvement, and manufacturing of crude oil and pure gasoline; liquefaction, transportation, and regasification related to liquefied pure gasoline; transporting crude oil by main worldwide oil export pipelines; processing, transporting, storage, and advertising and marketing of pure gasoline; and a gas-to-liquids plant. The Downstream phase contains refining of crude oil into petroleum merchandise; advertising and marketing of crude oil and refined merchandise; transporting of crude oil and refined merchandise by pipeline, marine vessel, motor tools, and rail automotive; and manufacturing and advertising and marketing of commodity petrochemicals, plastics for industrial makes use of, and gasoline and lubricant components. The corporate was based in 1906 and is headquartered in San Ramon, CA..
Be taught extra about CVX financials right here
