Chevron Stock News

Caverton Offshore Support Group Plc has announced its unaudited results for the period ended December 31, 2021. The results show Loss Before Tax (LBT) of N5.9billion as against Profit Before Tax (PBT) of N1.26billion in 2020. It recorded a Loss After Tax (LAT) of N5.91billion as against profit after tax (PAT) of N1.18billion in 2020. Loss Per Share (LPS) of 177kobo against Earnings Per Share of 35kobo in 2020. The group’s financial highlights show revenue of N35.06billion (N32.17billion in 2020) and a gross profit of N7.50billion (N13.6billion in 2020). Total operating profit, (excluding finance cost) came in negative of N1.28billion as against N5.29billion in 2020. “This result came due to the serious negative impact that the Covid-19 pandemic continues to have on business operations in Nigeria and the rest of the world, which has caused a significant reduction in activities by International and Local Oil and Gas companies who are the major clients of Caverton, which, in turn, rubbed-off our Caverton operations and profitability”, the company said.

Truist analyst Neal Dingmann climbing out on the risk curve today, downgrading Chevron (CVX) for its lack of upside in a rising oil price environment, while upgrading EOG (EOG)

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With prices trading near a seven-year high as crude makes a roaring start to 2022, the finances of Africas most populous nation remain precariously challenged by corruption and bad management. Nigerias opaque oil industry is hobbled by inept policies which meant the flight of badly needed investment resulting in the failure to produce more oil to take advantage of soaring oil prices. The countrys president also doubles as petroleum minister but a lack of clear understanding of changing global energy dynamics and a damaging fuel subsidy regime has left Nigerias oil output below her OPEC quota. Nigeria is like a man who is dying from dehydration despite being in the midst of a ferocious rainfall, says economist Festus Ogbobine. Brent hovered near $92 a barrel while West Texas Intermediate rose 2% for the week as robust demand tightened global markets. As supply remains constrained, a chorus of Wall Street banks and oil executives are forecasting a return to $100 oil. Additionally, heightened geopolitical risks driven by fears that Russia may invade Ukraine have also contributed to crudes climb. Demand has been strong, supply has been struggling a little bit to keep up with that and thats reflected in the market, said Chevron Corp.

Shares of Chevron Corporation (NYSE:CVX) dropped on Friday after the company disclosed its earnings report for the fourth quarter. Chevron beat revenue expectations but fell short on profit, despite the increasing costs of energy. Q4 2021 hedge fund letters, conferences and more A Mixed Q4 As reported by CNBC, analysts had expected Chevron to earn […]

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Chevron Corporation (NYSE: CVX ) … Full story available on Benzinga.com

The company recorded a profit of $5.1 billion as global prices rose.

AAPL and V rallied before the opening bell on earnings news. Meanwhile, quarterly results sparked weakness in shares of HOOD, CVX and CAT.

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Chevron (CVX) caps off a great 2021 with mixed Q4 results and conservative 2022 production outlook; shares are down 2-3% in light pre-market trading

Chevron earned $2.56 per share excluding items during the fourth quarter, while analysts had been expecting $3.12 per share.