(Boursier.com) — Chevron fell 3.5% to $ 130.61 Friday on Wall Street, the American oil group having announced a quarterly profit below market expectations. For the fourth quarter, adjusted earnings thus represented $5.1 billion and $2.65 per title, compared to a consensus of $3.1.
In oil and gas production, operating profit hit $5.2 billion, up tenfold year-on-year, but markets were therefore expecting even better, as the stock hit all-time highs Thursday night at over 135 $.
The group’s sales jumped 90% compared to the 4th quarter of 2020, to reach $48.13 billion, an amount higher than Wall Street expectations ($45.69 billion).
The group’s oil and gas production was 3.12 million barrels per day in the fourth quarter, down 5%. Over the year, it came out at 3.1 million barrels/day, a slight increase. Share buybacks in the first quarter are expected at the top end of the range. The group also announced a 6% increase in the dividend.
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