logo-loader
viewChevron Corporation

Chevron stock drops as third quarter disappoints

Net production amounted to 2.72mln barrels per day, up from 2.51mln barrels in the comparative period of last year.

Offshore oil operations
Chevron was down US$4.63 or 3.92% changing hands at US$113.87.

Chevron Corporation (NYSE:CVX) stock tumbled more than 3% on Friday after disappointing third-quarter results.

Net production for the three month period, ended September 30, amounted to 2.72mln barrels per day, up from 2.51mln barrels. In the United States output totalled 681,000 barrels oil equivalent per day, down 17,000 boepd from the same quarter last year.

Revenue for the period was stated at US$36.21bn, which was better than market expectations of US$34.04bn.

Earnings for the quarter were reported at US$2bn or US$1.03 per share, up from US$1.3bn or 68 cents per share - though that included a US$675mln gain related to asset sales as well as a US$220mln write off.

In New York, Chevron was down US$4.63 or 3.92% changing hands at US$113.87.

Quick facts: Chevron Corporation

Price: 110.08 USD

NYSE:CVX
Market: NYSE
Market Cap: $208.15 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Genprex sees newly licensed diabetes gene therapy as an...

Genprex Inc (NASDAQ:GNPX) CEO Rodney Varner tells Proactive the Texas-based biotech has signed a licensing agreement with the University of Pittsburgh for a diabetes gene therapy that could have the potential to treat Type 1 and Type 2 diabetes. Varner says the newly licensed diabetes gene...

2 days, 8 hours ago

2 min read