Chevron 3Q Results Miss Expectations

Chevron Personnel
Paul Sakuma/AP
By Matthew Rocco

Chevron (CVX), the second-largest U.S. oil company, reported on Friday a decline in quarterly profit due to the impact of lower refining margins, while oil and gas production increased but remained short of its target.

Third-quarter net income fell to $4.95 billion, or $2.57 per share, from $5.25 billion, or $2.69 per share, a year earlier.

The company produced 2.59 million barrels of oil equivalent per day in the quarter, up from 2.52 million bpd a year earlier. The company has been targeting 2.65 million bpd for this year, with output expected to grow by 25 percent by 2017.
Read Full Story

Markets

DJIA 26,492.21 -69.84 -0.26%
NASDAQ 8,007.47 14.22 0.18%
NIKKEI 225 24,033.79 93.53 0.39%
HANG SENG 27,816.87 317.48 1.15%
DAX 12,361.41 -13.25 -0.11%
USD (per EUR) 1.18 0.00 -0.06%
USD (per CHF) 0.97 0.00 0.25%
JPY (per USD) 112.91 -0.06 -0.05%
GBP (per USD) 1.32 0.00 -0.20%