- CVX shares were given less than 4 % on Friday after the fourth quarter profits.
- Oil Major outperformed Wall Street on the prediction of the fourth quarter revenues, but was lost on the arrow’s profitability.
- Chevron raised its quarterly profits from $ 1.63 to $ 1.71.
- Chevron reconfigured $ 15 billion of its shares in 2024.
At the end of the volatile trading week, CVX (CVX) It is the worst of Dow Jones Industrial Malce (DJIA) on Friday after losing a slightly minimal profit consensus.
The pioneer in the quarter -quarter oil announced the arrow of $ 2.06, which missed the average grade of Wall Street by 5 cents. CVX stocks are sold over 4.5 % in a late afternoon session.
After Nasdak excelled most often earlier this week, DJIA sank by a half -level trading, while Nasdak abandoned early profit by 1.3 %.
Chevron profit news
Chevron detonated revenue expectations from water in the fourth quarter, but this did not translate cleanly into profits. Sales of $ 52.23 billion, collected, by $ 3.82 billion, rise 11 % on an annual basis.
However, the losses in their refining operations are what he did. The rated part of the commercial activity has lost $ 248 million, due to a large extent to a decrease in margins in its repeated business. A year ago, the same sector witnessed $ 1.15 billion of profits.
Global production was almost flat at 3.35 meters BBL/day in the fourth quarter. The administration expects 6 % annual growth vision in production over the next two years.
For the entire year in 2024, Chevron reinstated about 5 % of the existing shares for a little more than $ 15 billion. It also spent about $ 12 billion on stock profits.
The administration said in the offer of its segments that costs of $ 2 billion in each of 2025 and 2026 may lead to an additional 10 billion dollars in the additional free cash flow by the end of 2026.
Chevron stock forecast
Chevron did not go anywhere for a long time. In general, it has been heading to a decrease since 2022, and this style appears to be on Friday.
Support was largely horizontal in a range of $ 136 to $ 142.50 since last August. The Topline Resistance Group is currently at $ 150 or 160 dollars.
Traders are likely to start by increasing the shares if they reach $ 141 or nearly. Chevron may be a boring company at this turn, but it spends about 10 % of the maximum market on re -purchases and distributions annually means that there is a reason to take a second look.
CVX daily stock chart
