Why Chevron Stock Dropped 4.5% Today
Chevron Corporation (NYSE: CVX) stock fell 4.5% through 10:35 a.m. ET Friday after the company reported a revenue beat but an earnings miss in its morning Q4 report.
Analysts had predicted Chevron would earn $2.11 per share, adjusted for one-time items, on sales of $48.4 billion. Chevron beat that sales forecast with a stick, doing $52.2 billion in business during the quarter. Profits, however, came in a nickel short at $2.06 per share.
Chevron's adjusted earnings didn't just miss analysts' forecasts. They also declined versus the preceding Q3 and Q4, falling 18% and 40%, respectively. The picture as calculated according to generally accepted accounting principles (GAAP) looks a little better. GAAP profits declined 26% sequentially but were 51% better than what Chevron earned in Q4 2023.
Source Fool.com
Chevron Corp. Stock
With 36 Buy predictions and 2 Sell predictions Chevron Corp. is one of the favorites of our community.
With a target price of 165 € there is a positive potential of 26.69% for Chevron Corp. compared to the current price of 130.24 €.
