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Chevron Corporation (CVX)

165.89

+0.61

(+0.37%)

At close: 4:02 PM EDT

165.80

-0.09

(-0.05%)

After hours: 5:23 PM EDT

What Exxon, Chevron Q1 earnings mean for the energy sector

Energy giants Exxon Mobil (XOM) and Chevron (CVX) are experiencing divergent stock performance following the release of their respective first quarter earnings reports today. Both companies faced headwinds from lower national gas prices and narrowing refining margins, which put pressure on their first quarter profits. However, Chevron managed to surpass expectations on adjusted earnings per share. Yahoo Finance's Jared Blikre and Julie Hyman discuss each company's first quarter earnings report, providing insights into how their financial performance is impacting share prices. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith

Yahoo Finance Video 1 hour ago

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CVX
+0.37%
Chevron, Exxon face energy headwinds, lower profits in Q1

Exxon Mobil (XOM) and Chevron (CVX) reported their first quarter earnings, with both companies revealing a fall in revenue for the quarter compared to the same period last year. However, both companies beat Wall Street expectations for revenue for the quarter. Chevron claims the revenue drop is partly due to lower margins on refined product sales. Yahoo Finance Reporter Ines Ferre joins The Morning Brief to analyze the latest developments for these companies and what they mean for the stocks moving forward. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

Yahoo Finance Video 7 hours ago

XOM
-2.78%
CVX
+0.37%
UPDATE 1-Hess sets May 28 shareholder vote on Chevron buyout

Hess Corp set May 28 for a special meeting of shareholders to vote on Chevron Corp 's $53 billion buyout offer, the company said in a securities filing on Friday. Chevron last October offered to acquire Hess Corp in a move to gain a foothold in oil-rich Guyana's lucrative offshore fields. The deal has been stalled by a regulatory review and challenged by Exxon Mobil, which has filed an arbitration claim that could block the deal.

Reuters 5 minutes ago

CVX
+0.37%
HES
Exxon, Chevron Earnings Fall As Supermajors Spar Over South America's Oil Jewel

Exxon Mobil and Chevron reported first-quarter earnings and revenue declines early Friday as lower refining margins and natural gas prices took a toll on the energy giants. Meanwhile, the two U.S. supermajors continue to squabble over Chevron's attempt to move into oil-rich Guyana. XOM stock fell Friday while Chevron stock shook off early losses and advanced.

Investor's Business Daily 1 hour ago

XOM
-2.78%
CVX
+0.37%
Chevron (CVX) Q1 2024 Earnings Call Transcript

CVX earnings call for the period ending March 31, 2024.

Motley Fool 1 hour ago

CVX
+0.37%
Oil Posts Weekly Advance Amid Signs of a Tightening Market

(Bloomberg) -- Oil rose this week amid signs of a tightening physical market while traders continue to assess lingering Middle East risks. Most Read from BloombergPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldFed’s Preferred Core Inflation Gauge Rose at Brisk Pace in MarchHuawei’s New Phone Runs Latest Version of Made-in-China ChipBillionaire Stephen Ross Believes in South Florida—and Is Spending Big to Transform ItWes

Bloomberg 2 hours ago

CVX
+0.37%
XOM
-2.78%
US Energy Stocks Fall Following Oil Giants' Subdued Earnings Reports

Shares of major U.S. energy companies experienced widespread declines in the first hour of trading on Friday, subsequent to the recently released subdued earnings reports from oil giants Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX). The Energy Select Sector SPDR Fund (NYSE:XLE), a gauge for energy sector performance, experienced a 1.7% drop, setting it up for its worst session since the end of January. Chart: Energy Stocks Witness Their Sharpest Decline Since Late January As Major O

Benzinga 3 hours ago

CVX
+0.37%
XOM
-2.78%
Exxon Plunges After Surprise Refining Costs Erode Returns

(Bloomberg) -- Exxon Mobil Corp. plunged the most in six months after higher-than-expected maintenance costs diminished oil-refining results. Most Read from BloombergPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldFed’s Preferred Core Inflation Gauge Rose at Brisk Pace in MarchHuawei’s New Phone Runs Latest Version of Made-in-China ChipBillionaire Stephen Ross Believes in South Florida—and Is Spending Big to Transform It

Bloomberg 4 hours ago

XOM
-2.78%
CVX
+0.37%
HES
Earnings for Big Oil backpedal as natgas prices tumble

HOUSTON (Reuters) -U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. Results at oil and gas firms are still retreating from record levels in 2022 that were boosted by a surge in demand after the COVID-19 pandemic and then when prices spiked after Russia invaded Ukraine. In the U.S., Exxon Mobil missed Wall Street earnings targets on fuel derivatives and Chevron beat tempered expectations with better-than-expected U.S. oil production.

Reuters 4 hours ago

CVX
+0.37%
XOM
-2.78%
Exxon and Chevron Stocks Fall After Earnings. The Bar Was High.

With shares of Exxon Mobil and Chevron near their 52-week highs, the companies faced a high bar for their first-quarter earnings reports, both of which were released early on Friday. Chevron, which beat analysts’ earnings estimates by a penny, was down 0.8%. Exxon, which missed estimates, was down 3.6%.

Barrons.com 6 hours ago

CVX
+0.37%
XOM
-2.78%
Exxon Spent Money to Make Money

The oil and gas giant’s spending in recent years has opened up a huge gap with Chevron, and it might widen further.

The Wall Street Journal 6 hours ago

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CVX
+0.37%
Chevron First-Quarter Results Fall Annually Amid Lower Refining Margins

Chevron First-Quarter Results Fall Annually Amid Lower Refining Margins

PREMIUM
MT Newswires 7 hours ago

CVX
+0.37%
Chevron (CVX) Q1 Earnings Beat on Strong U.S. Production

Chevron (CVX) pays $3 billion in dividends during the first quarter and spends around $4.1 billion in capital and exploratory expenditures.

Zacks 8 hours ago

CVX
+0.37%
VLO

HAL
Exxon and Chevron Earnings Fall Back to Earth

The oil companies are still printing big profits, but their postpandemic run of record earnings is slowing down.

The Wall Street Journal 9 hours ago

XOM
-2.78%
CVX
+0.37%
^GSPC
Chevron Corp (CVX) Reports Q1 2024 Earnings: A Close Call with Analyst Projections

Key Financial Metrics Nearly Align with Market Expectations Amidst Strategic Expansions

GuruFocus.com 9 hours ago

CVX
+0.37%
Chevron (CVX) Tops Q1 Earnings Estimates

Chevron (CVX) delivered earnings and revenue surprises of 3.17% and 2.45%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

Zacks 10 hours ago

CVX
+0.37%
UPDATE 2-Exxon misses on Q1 profit despite big gains in Guyana

Exxon Mobil Corp on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. Latest results from oil and gas companies including Chevron and TotalEnergies reflect a sharp downturn in natural gas prices after a warmer than usual Northern Hemisphere winter cut demand and pushed up inventories. Exxon, which is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources , posted lower first-quarter earnings of $8.22 billion, down from an $11.43 billion net profit a year ago.

Reuters 10 hours ago

XOM
-2.78%
PXD

CVX
+0.37%
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings

Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.

Hart Energy 10 hours ago

CVX
+0.37%
XOM
-2.78%
Chevron Exceeds Estimates on Oil-Output Gains Amid $80 Crude

(Bloomberg) -- Chevron Corp. surpassed expectations for a second straight quarter as strong oil-production growth from recent acquisitions helped the company take advantage of crude prices above $80 a barrel. Most Read from BloombergJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingFed’s Preferred Core Inflation Gauge Rose at Brisk Pace in MarchHuawei’s New Phone Runs Latest Version of Made-in-China ChipBillionaire Stephen

Bloomberg 10 hours ago

CVX
+0.37%
HES

XOM
-2.78%
Chevron posts Q1 profit beat with oil production gains

(Reuters) -Oil giant Chevron Corp beat estimates for first-quarter profit on Friday as higher production volumes in the U.S. helped offset a hit from weak natural gas prices and fuel margins. Chevron and Exxon Mobil, which posted first quarter results that missed Wall Street consensus estimates, are feeling the pinch of weak energy prices and fuels margins that have cooled in the last year. A glut of natural gas and a warmer-than-expected winter slashed natural gas prices, eating into earnings.

Reuters 11 hours ago

CVX
+0.37%

Performance Overview

Return	CVX	S&P 500
YTD	+12.43%	+6.92%
1-Year	+2.23%	+25.26%
3-Year	+84.52%	+22.00%

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Chevron Corporation (CVX)

What Exxon, Chevron Q1 earnings mean for the energy sector

Chevron, Exxon face energy headwinds, lower profits in Q1

UPDATE 1-Hess sets May 28 shareholder vote on Chevron buyout

Exxon, Chevron Earnings Fall As Supermajors Spar Over South America's Oil Jewel

Chevron (CVX) Q1 2024 Earnings Call Transcript

Oil Posts Weekly Advance Amid Signs of a Tightening Market

US Energy Stocks Fall Following Oil Giants' Subdued Earnings Reports

Exxon Plunges After Surprise Refining Costs Erode Returns

Earnings for Big Oil backpedal as natgas prices tumble

Exxon and Chevron Stocks Fall After Earnings. The Bar Was High.

Exxon Spent Money to Make Money

Chevron First-Quarter Results Fall Annually Amid Lower Refining Margins

Chevron (CVX) Q1 Earnings Beat on Strong U.S. Production

Exxon and Chevron Earnings Fall Back to Earth

Chevron Corp (CVX) Reports Q1 2024 Earnings: A Close Call with Analyst Projections

Chevron (CVX) Tops Q1 Earnings Estimates

UPDATE 2-Exxon misses on Q1 profit despite big gains in Guyana

Exxon Mobil, Chevron See Profits Fall in 1Q Earnings

Chevron Exceeds Estimates on Oil-Output Gains Amid $80 Crude

Chevron posts Q1 profit beat with oil production gains

Performance Overview