Chevron Corporation
- Chevron Corp. declined 2.5% to $148.85 after the energy company reported weaker-than-expected second-quarter earnings due to weak crude oil refining margins.
Revenue increased to $51.2 billion from $48.9 billion, net income decreased to $4.4 billion from $6.0 billion, and diluted earnings per share fell to $2.43 from $3.20 a year ago.
Chevron's global production increased by 11% because of higher production at oil fields in the Permian and Denver-Julesburg basins and contributions from the recent acquisition of PDC Energy.
Chevron also executed agreements in Namibia, Brazil, Equatorial Guinea, and Angola to increase the company’s global exploration acreage footprint.
The company returned $6 billion of cash to shareholders during the quarter, including dividends of $3 billion and share repurchases of $3 billion.
The company's board declared $1.63 per share of quarterly dividend payable on September 10 to shareholders on record on August 19.
Aug 3, 2024 - Chevron increased 1.2% to $149.70 after the second-largest U.S. oil company reported a decline in earnings in its latest quarter but also rewarded its shareholders with record dividends and stock buybacks in 2023.
Total revenue in the fourth quarter decreased to $47.2 billion from $56.5 billion, net income plunged to $2.2 billion from $6.4 billion, and diluted earnings per share fell to $1.22 from $3.33 a year ago.
The company's annual worldwide net oil-equivalent production in 2023 surpassed 3.1 million barrels, driven by a 14% rise in production in the U.S.
Cash returned to shareholders increased 18% to $26 billion, including a dividend of $11.3 billion and a stock repurchase of $14.9 billion.
“In 2023, we returned more cash to shareholders and produced more oil and natural gas than any year in the company’s history,” said Mike Wirth, Chevron’s chairman and chief executive officer.
Feb 2, 2024 - Chevron Corporation dropped 6.7% to $144.35 after the integrated energy company reported quarterly results.
Revenue in the third quarter declined to $54. billion from $66.6 billion, net income plunged to $6.5 billion from $11 billion, and diluted earnings per share dropped to $3.48 from $5.78 a year ago.
Third-quarter earnings were negatively impacted by lower crude oil prices and weaker margins on refined product sales.
The company's worldwide net oil-equivalent production increased 4%, and U.S. production was up 20%, driven largely by the recent acquisition of PDC Energy.
PDC Energy added 179,000 oil-equivalent per day in the quarter.
In the quarter, the company distributed to shareholders about $6.2 billion, including dividends of $2.9 billion and stock repurchases of $3.4 billion.
Additionally, the company board of directors declared a cash dividend of $1.51 per share, payable on December 11 to shareholders on record on November 17.
The company is on track to complete its recently announced $60 billion acquisition of Hess Corp. by the end of 2024.
Oct 27, 2023 - Chevron Corp fell 0.8% to $158.50 after the oil company reported lower earnings from a year ago following a decline in energy prices.
Revenue in the second quarter fell to $48.9 billion from $68.7 billion and net income declined to $6.0 billion from $11.6 billion and diluted earnings per share dropped to $3.20 from $5.95 a year ago.
Jul 28, 2023 - Chevron Corporation declined 1% to $165.43 after the oil company reported higher first quarter profit despite the decline in oil and natural gas prices.
Consolidated revenue in the first quarter declined to $50.8 billion from $54.4 billion a year ago. Net income in the quarter increased to $6.6 billion from $6.3 billion and diluted earnings per share rose to $3.46 from $3.22 a year ago.
Worldwide net oil-equivalent production declined 3% from a year ago to 2.97 million barrels per day.
The company distributed $6.6 billion during the quarter, including dividends of $2.9 billion and share repurchases 22 million for $3.75 billion. The company expects to repurchase $4.375 billion in shares in the second quarter.
The company's board declared a dividend of $1.51 a share payable on June 12 to shareholders on record on May 19.
Apr 28, 2023
| Year | Mar | Jun | Sep | Dec | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 3.46 | 3.20 | 3.48 | - | - | |
| 2022 | 3.22 | 5.95 | 5.78 | 3.33 | 18.28 | |
| 2021 | 0.72 | 1.6 | 3.19 | 2.63 | 8.14 | |
| 2020 | 1.93 | -4.44 | -0.12 | -0.33 | -2.96 | |
| 2019 | 1.39 | 2.27 | 1.36 | -3.51 | 1.54 | |
| 2018 | 1.9 | 1.78 | 2.11 | 1.95 | 7.74 | |
| 2017 | 1.41 | 0.91 | 1.03 | 0.73 | 4.08 | |
| 2016 | 0.39 | 0.48 | 0.68 | 0.22 | 1.77 | |
| 2015 | 1.37 | 0.30 | 1.09 | 0.31 | 3.07 | |
| 2014 | 2.36 | 2.98 | 2.95 | 1.85 | 10.14 | |
| 2013 | 3.18 | 2.77 | 2.57 | 2.57 | 11.09 | |
| 2012 | 3.27 | 3.66 | 2.69 | 3.70 | 13.32 | |
| 2011 | 3.09 | 3.85 | 3.92 | 2.58 | 13.44 | |
| 2010 | 2.27 | 2.70 | 1.87 | 2.64 | 9.48 | |
| 2009 | 0.92 | 0.87 | 1.92 | 1.53 | 5.24 | |
| 2008 | 2.48 | 2.90 | 3.85 | 2.44 | 11.67 | |
| 2007 | 2.18 | 2.52 | 1.75 | 2.32 | 8.77 | |
| 2006 | 1.80 | 1.97 | 2.29 | 1.74 | 7.8 | |
| 2005 | 1.28 | 1.76 | 1.64 | 1.86 | 6.54 |