San Ramon, CA-based Chevron Corp. (CVX) is one of the largest publicly traded oil and gas companies in the world, based on proved reserves. It is engaged in oil and gas exploration and production, refining and marketing of petroleum products, manufacturing of chemicals, and other energy-related businesses.
Currently, Chevron has a Zacks Rank #5 (Strong Sell) but that could change following its fourth quarter 2014 earnings report which has just released. Coming to earnings surprise history, the company has a mixed track record: its beaten estimates in two of the last four quarters at an average rate of 5.06%.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Chevron beats on earnings. Earnings per share came in at $1.85, above the Zacks Consensus Estimate of $1.67.
Revenue: Revenues above expectations. Revenues of $46,088 million were ahead of the Zacks Consensus Estimate of $33,277 million.
Key Stats: Chevron’s total production of crude oil and natural gas remained essentially unchanged from the year-earlier level at 2,582 thousand oil-equivalent barrels per day (MBOE/d). Though the U.S. output augmented 3.5% year over year, the company’s international operations (accounting for 74% of the total) registered a 0.9% fall in volumes.
Check back later for our full write up on this Chevron earnings report later!
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