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Stock Market & Financial Investment News

News Breaks
March 11, 2014
08:42 EDTCVXChevron reaffirms strategies at annual security analyst meeting
Chevron Corporation is continuing to generate industry-leading operational and financial results and advancing key projects to drive future growth, executives said today at the company’s annual security analyst meeting in New York. “World energy demand continues to grow and the outlook for the energy business remains excellent,” said John Watson, Chevron’s chairman and CEO. Watson added, “Our strategies are sound, and we’re poised to deliver significant production growth through the end of the decade. We believe this compelling growth profile, combined with flattening capital spending levels these next few years, should serve as a strong catalyst for value creation for our shareholders in the years ahead.” Jay Johnson, senior vice president, Upstream, provided an overview of Chevron’s queue of projects, exploration assets, and other long-term opportunities. “Our plan for production growth is solid and will be driven by near-term project ramp-ups as well as our larger major capital projects which begin starting up later this year.” Johnson added, “These projects are attractive, and when combined with profitable production growth from our shale and tight resource developments, are expected to add over 800,000 barrels of oil equivalent per day by 2017. We also have a deep queue of other growth opportunities which should allow us to continue growing production to the end of the decade.”
News For CVX From The Last 14 Days
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May 1, 2015
16:19 EDTCVXOn The Fly: Top stock stories for Friday
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12:45 EDTCVXOn The Fly: Top stock stories at midday
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08:36 EDTCVXChevron reports Q1 cash flow from operations of $2.3B
Cash flow from operations in Q1 was $2.3B, compared with $8.4B in the corresponding 2014 period. Excluding working capital effects, cash flow from operations in Q1 was $4.3B, compared with $8B in 2014. Capital and exploratory expenditures in Q1 were $8.6B, compared with $9.4B in the corresponding 2014 period. The amounts included $730M in 2015 and $612M in 2014 for the company’s share of expenditures by affiliates, which did not require cash outlays by the company. Expenditures for upstream represented 95% of the companywide total in the first three months of 2015.
08:34 EDTCVXChevron CEO says on track for significant cash flow, production growth by 2017
“First quarter earnings declined from a year ago due to sharply lower oil prices, which reduced revenue and earnings in our upstream business. Downstream operations were strong, benefitting from lower feedstock costs and improved refinery reliability. We’re responding to the current price environment by capturing cost reductions, pacing new project approvals and further streamlining our portfolio as planned. We’re taking a number of deliberate actions to lower our cost structure, and I expect these efforts to increasingly show through in our financial results as the year progresses. Production increased over 3% in the period, and we are hitting major milestones on our development projects under construction, like Gorgon and Wheatstone in Australia. We remain on track to deliver significant cash flow and production growth by 2017,” said Chairman and CEO John Watson.
08:34 EDTCVXChevron reports Q1 production up over 3%
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08:31 EDTCVXChevron reports Q1 EPS $1.37, consensus 79c
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April 30, 2015
15:01 EDTCVXNotable companies reporting before tomorrow's open
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April 27, 2015
08:44 EDTCVXChevron May weekly volatility elevated at 26 into Q1 and outlook
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April 21, 2015
12:59 EDTCVXExxon Mobil CEO sees continued pressure on oil prices, WSJ says
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07:22 EDTCVXOceaneering cut to sell following recent rally at Jefferies
Jefferies downgraded Oceaneering (OII) to Underperform from Hold citing the recent rally in shares and its lowered order outlooks across its subsea hardware coverage. Underperform is the firm's equivalent to a sell rating. It cut its price target for shares to $49 from $52. Oceaneering closed Monday's trading up 45c to $57.56. Jefferies calls Chevron (CVX) and Galp Energia its top stock picks in the integrated oil sector.

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