Chevron is a diversified giant in the energy sector, offering a high yield. But you can get a notably higher yield from a more stable business.
I plan to continue padding my passive income this month.
Oil is traded higher on Friday because of geopolitical tensions, which have also caused some oil stocks to move up.
Oil-and-gas giants Exxon Mobil (XOM) and Chevron (CVX) surpassed subdued third-quarter earnings expectations Friday. But substantially weaker profit margins for refined products, reflecting lower summer fuel prices, dropped overall net income for both companies from a year ago.
Chevron Corporation (NYSE:CVX ) Q3 2024 Results Conference Call November 1, 2024 11:00 AM ET Company Participants Jake Spiering - General Manager, Investor Relations Mike Wirth - Chairman of the Board and Chief Executive Officer Eimear Bonner - Vice President and Chief Financial Officer Conference Call Participants Jean Ann Salisbury - Bank of America Neil Mehta - Goldman Sachs Doug Leggate - Wolfe Research Biraj Borkhataria - RBC Josh Silverstein - UBS Devin McDermott - Morgan Stanley Lloyd Byrne - Jefferies Betty Jiang - Barclays Paul Cheng - Scotiabank Bob Brackett - Bernstein Research Lucas Herrmann - BNP Paribas John Royall - JPMorgan Roger Read - Wells Fargo Nitin Kumar - Mizuho Ryan Todd - Piper Sandler Alastair Syme - Citi Operator Good morning. My name is Justin, and I will be your conference facilitator today.
CVX paid $2.9 billion in dividends during the third quarter and spent around $4.1 billion in capital and exploratory expenditures.
The long-awaited Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) is out this morning. At first glance, it looks paltry: 12K new jobs were filled in October, with downward revisions to the previous two months.
Chevron Corporation (NYSE:CVX, ETR:CHV) shares moved higher after the oil giant beat third quarter profit and revenue estimates, driven by record US and Permian Basin production. Adjusted profit was $4.5 billion or $2.51 per share, down from $5.7 billion or $3.05 per share in the year-ago quarter.
Chevron CEO Mike Wirth discusses the company's cost reduction strategy, the outlook for Permian Basin oil production and capital return plan on "Bloomberg Open Interest." Chevron beat analysts' estimates for profit, output, and sales due to rising oil production from the Permian Basin.
Earnings season continues to move rapidly, with a notably rich reporting docket this week. A few big-tech names and representatives from many sectors have delivered their quarterly prints, with next week just as exciting.
U.S. oil producers Exxon Mobil and Chevron posted better-than-expected third-quarter profits on Friday, outperforming their European rivals, as record high oil production cushioned the blow from a plunge in fuel margins.
Chevron chairman and CEO Mike Wirth joins 'Squawk on the Street' to discuss the company's quarterly earnings results, growing oil production, state of the energy sector, and more.