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Filing in Focus: Chevron 8-K, August 2, 2013
Chevron Corporation (CVX) announced its financial results for the second quarter of fiscal year 2013, reporting earnings of $5.37B, a 26% decrease from a year ago this quarter of $7.21B. Earnings per share fell from $3.66 a year ago to $2.77 per share, nearly $0.20 below analyst expectations. Chevron oil and gas production has decreased to levels well below the company’s targets as the company and its rivals like Shell (RDS.A) and ExxonMobil (XOM) struggle to meet quarterly financial and operations goals. Chevron produced 2.62 million barrels of oil equivalent per day this quarter last year and managed to produce 2.58 million barrels of oil equivalent per day this quarter with the goal of producing 2.65 million barrels of oil a day.