Chevron stock slip toward first loss in 8 sessions as profit and revenue fall, but top forecasts

Dow Jones04-26

MW Chevron stock slip toward first loss in 8 sessions as profit and revenue fall, but top forecasts

Shares of Chevron Corp. $(CVX)$ slipped 0.4% in premarket trading Friday, putting them in danger of snapping a seven-session losing streak, after the oil giant reported first-quarter profit and revenue that fell but topped expectations, as U.S. production jumped 35%. Net income fell to $5.5 billion, or $2.97 a share, from $6.57 billion, or $3.46 a share, due primarily to lower margins on refined product sales and lower natural-gas realizations. Excluding nonrecurring items, adjusted earnings per share of $2.93 was above the FactSet consensus of $2.92. Revenue declined 4.1% to $48.72 billion to beat the FactSet consensus of $48.42 billion. U.S. natural-gas realization sank 51.9% to $1.24 per thousand cubic feet (MCF). Worldwide production increased 12%, boosted by as 35% jump in the U.S., due primarily to the acquisition of PDC Energy and strength in the Permian and DJ Basins in the U.S. The stock has rallied 10.8% year to date through Thursday, while the Energy Select Sector SPDR ETF $(XLE)$ has run up 15.3% and the S&P 500 has gained 5.8%.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

April 26, 2024 06:30 ET (10:30 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2430221480?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-26 18:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2430221480","market":"nz","top_or_hot":-1,"title":"Chevron stock slip toward first loss in 8 sessions as profit and revenue fall, but top forecasts","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Chevron stock slip toward first loss in 8 sessions as profit and revenue fall, but top forecasts\n</p>\n<p>\n     Shares of Chevron Corp. <a href=\"https://laohu8.com/S/CVX\">$(CVX)$</a> slipped 0.4% in premarket trading Friday, putting them in danger of snapping a seven-session losing streak, after the oil giant reported first-quarter profit and revenue that fell but topped expectations, as U.S. production jumped 35%. Net income fell to $5.5 billion, or $2.97 a share, from $6.57 billion, or $3.46 a share, due primarily to lower margins on refined product sales and lower natural-gas realizations. Excluding nonrecurring items, adjusted earnings per share of $2.93 was above the FactSet consensus of $2.92. Revenue declined 4.1% to $48.72 billion to beat the FactSet consensus of $48.42 billion. U.S. natural-gas realization sank 51.9% to $1.24 per thousand cubic feet (MCF). Worldwide production increased 12%, boosted by as 35% jump in the U.S., due primarily to the acquisition of <a href=\"https://laohu8.com/S/PDCE\">PDC Energy</a> and strength in the Permian and DJ Basins in the U.S. The stock has rallied 10.8% year to date through Thursday, while the Energy Select Sector SPDR ETF <a href=\"https://laohu8.com/S/XLE\">$(XLE)$</a> has run up 15.3% and the S&amp;P 500  has gained 5.8%. \n</p>\n<p>\n     -Tomi Kilgore \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 26, 2024 06:30 ET (10:30 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chevron stock slip toward first loss in 8 sessions as profit and revenue fall, but top forecasts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChevron stock slip toward first loss in 8 sessions as profit and revenue fall, but top forecasts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-26 18:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MW Chevron stock slip toward first loss in 8 sessions as profit and revenue fall, but top forecasts\n\n\n     Shares of Chevron Corp. $(CVX)$ slipped 0.4% in premarket trading Friday, putting them in ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CVX","symbol_name":"雪佛龙","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2430221480","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430221480","pubTimestamp":1714127400,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Chevron Corp.  slipped 0.4% in premarket trading Friday, putting them in danger of snapping a seven-session losing streak, after the oil giant reported first-quarter profit and revenue that fell but topped expectations, as U.S. production jumped 35%. Net income fell to $5.5 billion, or $2.97 a share, from $6.57 billion, or $3.46 a share, due primarily to lower margins on refined product sales and lower natural-gas realizations. Excluding nonrecurring items, adjusted earnings per share of $2.93 was above the FactSet consensus of $2.92. Revenue declined 4.1% to $48.72 billion to beat the FactSet consensus of $48.42 billion. U.S. natural-gas realization sank 51.9% to $1.24 per thousand cubic feet . Worldwide production increased 12%, boosted by as 35% jump in the U.S., due primarily to the acquisition of PDC Energy and strength in the Permian and DJ Basins in the U.S. The stock has rallied 10.8% year to date through Thursday, while the Energy Select Sector SPDR ETF  has run up 1","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CVX":"雪佛龙","XLE":"SPDR能源指数ETF"},"translate_title":"雪佛龙股价下滑至8个交易日以来首次下跌，利润和收入下降，但最高预测","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CVX":1,"XLE":0.9},"content_text":"MW Chevron stock slip toward first loss in 8 sessions as profit and revenue fall, but top forecasts\n\n\n     Shares of Chevron Corp. $(CVX)$ slipped 0.4% in premarket trading Friday, putting them in danger of snapping a seven-session losing streak, after the oil giant reported first-quarter profit and revenue that fell but topped expectations, as U.S. production jumped 35%. Net income fell to $5.5 billion, or $2.97 a share, from $6.57 billion, or $3.46 a share, due primarily to lower margins on refined product sales and lower natural-gas realizations. Excluding nonrecurring items, adjusted earnings per share of $2.93 was above the FactSet consensus of $2.92. Revenue declined 4.1% to $48.72 billion to beat the FactSet consensus of $48.42 billion. U.S. natural-gas realization sank 51.9% to $1.24 per thousand cubic feet (MCF). Worldwide production increased 12%, boosted by as 35% jump in the U.S., due primarily to the acquisition of PDC Energy and strength in the Permian and DJ Basins in the U.S. The stock has rallied 10.8% year to date through Thursday, while the Energy Select Sector SPDR ETF $(XLE)$ has run up 15.3% and the S&P 500  has gained 5.8%. \n\n\n     -Tomi Kilgore \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 26, 2024 06:30 ET (10:30 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430221480"}