Chevron delivered quarterly earnings that fell well short of analysts' expectations on Friday.» Read More
SAN RAMON, Calif. _ Chevron Corp. on Friday reported second-quarter earnings of $571 million. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share. This story was generated by Automated Insights using data from Zacks Investment Research.
Just days into the second-quarter earnings season, Chevron Corp and Royal Dutch Shell Plc said they would slash a combined 8,000 thousand jobs around the world. In North Dakota, Whiting Petroleum Corp, the top producer in the No. 2 U.S. oil patch, cut its capital expenditure budget days after optimistically raising it 15 percent on bets the renewed downturn in...
BUENOS AIRES, July 30- Protests that briefly disrupted production in part of Argentina's main shale oil producing region have ended and operations are back to normal, state-controlled energy firm YPF said on Thursday. Demonstrators from the local Zonal Xwanco and Campo Maripe communities late on Wednesday lifted their blockades on access roads to several...
Some of the names on the move ahead of the open.
Chevron plans to slash 1,500 jobs to offset slumping crude oil prices.
PARIS, July 29- French oil company Total posted higher than expected second-quarter profit on Wednesday, helped by increased refining margins in Europe and accelerated cost cuts to adjust to a low oil price environment. Europe's second biggest oil company reported adjusted net profit of $3.085 billion, beating analyst expectations of $2.61 billion and only...
Leon Cooperman wouldn't be buying energy stocks aggressively, but here is where he is putting his money.
July 28- Chevron Corp, the second-largest U.S. oil company, said on Tuesday it would lay off 1,500 employees, about 2 percent of its global work force, as it trims costs to offset declining crude prices. Nearly all of the layoffs will be in Texas, where the company has expanded in recent years to develop land in the Permian shale formation, and California, where Chevron...
Energy giant Chevron will eliminate about 1,500 job positions in an effort to cut costs, the company reported Tuesday.
While big-name oil stocks rose in tandem with the commodity Tuesday, they're still slated to struggle, one industry analyst said.
HOUSTON, July 27- Petroleos de Venezuela has asked oil suppliers to submit offers to sell the South American country up to 70,000 barrels per day of ultralight sweet crudes through contracts of one to five years, potential bidders told Reuters. Even though the OPEC- member nation has the world's largest oil reserves, it does not produce enough light, sweet crude.
Ahead of President Barack Obama's trip to Kenya and Ethiopia, Africa has resurfaced as a topic of discussion in the investment community.
The Fed meets next week, but a commodities meltdown and earnings season are adding to concerns about global growth and may steal some of its thunder.
The world's big energy groups have shelved $200 billion of spending on new projects in a round of cost-cutting aimed at protecting investors. The Financial Times reports.
Second-quarter earnings are now slated to be negative, and there's a clear culprit for the drop.
Dollar strength, weak oil weigh on earnings.
U.S. stocks closed about 1 percent lower, despite surprisingly strong Amazon earnings, as signs of slower global growth weighed on sentiment.
With the energy sector's second-quarter earnings seen doing better than the prevailing consensus forecast for a decline of almost 59 percent from the year-ago quarter, according to a Thomson Reuters analysis, shares could get a benefit. But the S&P energy subsector of exploration and production companies is at its most expensive on a price-earnings basis...
Although oil prices will remain low, Goldman singles out one big energy company as good play.
Jim Cramer provides his advice on caller favorite stocks at lightning speed.