{"id":364748,"date":"2025-02-02T09:33:36","date_gmt":"2025-02-02T04:03:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=364748"},"modified":"2025-02-02T09:33:36","modified_gmt":"2025-02-02T04:03:36","slug":"chevron-stock-sinks-on-slight-q4-profit-miss-refining-losses-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/chevron-stock-sinks-on-slight-q4-profit-miss-refining-losses-crypto-news\/","title":{"rendered":"Chevron stock sinks on slight Q4 profit miss, refining losses &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>CVX stock shot more than 4% lower on Friday following Q4 earnings.<\/strong><\/li>\n<li><strong>The oil major bested Wall Street on Q4 revenue prediction but missed on EPS.<\/strong><\/li>\n<li><strong>Chevron raised its quarterly dividend from $1.63 to $1.71.<\/strong><\/li>\n<li><strong>Chevron repurchased $15 billion of its own shares in 2024.<\/strong><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p>At the end of a volatile trading week, <strong>Chevron (CVX)<\/strong> is the worst performing <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/dow-jones-industrial-average-sinks-amid-renewed-tariff-threats-202501311946\">Dow Jones Industrial Average (DJIA) <\/a>stock on Friday after missing its earnings consensus slightly on the bottom line.<\/p>\n<p>The oil major announced Q4 adjusted earnings per share of $2.06, which missed the average Wall Street estimate by 5 cents. CVX stock sold off more than 4.5% in the late afternoon session.<\/p>\n<p>After outperforming the NASDAQ for the most part earlier in the week, the DJIA sank by half a percentage point late in afternoon trading, while the NASDAQ gave up its 1.3% early gain.<\/p>\n<h2 class=\"fxs_headline_medium\">Chevron earnings news<\/h2>\n<p>Chevron blew revenue expectations out of the water in the fourth quarter, but this didn\u2019t translate cleanly to profits. Sales of $52.23 billion overpowered consensus by $3.82 billion, rising 11% on an annual basis.<\/p>\n<p>Losses in its refining operations, however, are what did it in. The downstream side of the business lost $248 million, largely due to lower margins in its refined products business. A year ago, the same segment saw $1.15 billion in profits.<\/p>\n<p>Global production was roughly flat YoY at 3.35M bbl\/day in the fourth quarter. Management expects to see 6% annual growth in production over the next two years.<\/p>\n<p>For the full year in 2024, Chevron repurchased about 5% of shares outstanding for a little over $15 billion. It also spent about $12 billion on dividends.<\/p>\n<p>Management said in its slideshow that upward of $2 billion in cost reductions in each of 2025 and 2026 could lead to an additional $10 billion in added free cash flow by the end of 2026.<\/p>\n<h2 class=\"fxs_headline_medium\">Chevron stock forecast<\/h2>\n<p>Chevron stock has been going nowhere for quite a while. Overall, its been trending lower since 2022, and that pattern appears to be continuing on Friday.\u00a0<\/p>\n<p>Support has been largely horizontal in the $136 to $142.50 range since last August. The topline band of resistance currently sits in the high $150s or low $160s.<\/p>\n<p>Traders will likely start by up the shares if they reach $141 or thereabouts. Chevron might be a boring business at this juncture, but it spending about 10% of its market cap on buybacks and dividends annually means there&#8217;s reason to take a second look.\u00a0<\/p>\n<p><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/editorial.fxsstatic.com\/miscelaneous\/CVX31-1-25-638739514915008878.jpg\"><\/a><\/p>\n<p><small>CVX daily stock chart<\/small><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CVX stock shot more than 4% lower on Friday following Q4 earnings. The oil major bested Wall Street on Q4 revenue prediction but missed on EPS. Chevron raised its quarterly dividend from $1.63 to $1.71. Chevron repurchased $15 billion of its own shares in 2024. \u00a0 At the end of a volatile trading week, Chevron [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":364750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,351,257,458,255,250,523,683,252,247,253,249,308,256,254],"class_list":["post-364748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-commodities","tag-cryptocurrency","tag-dowjones","tag-gta","tag-looks-rare","tag-newstrading","tag-oil","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=364748"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364748\/revisions"}],"predecessor-version":[{"id":364752,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364748\/revisions\/364752"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/364750"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=364748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=364748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=364748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}