Chevron says Q3 earnings to fall short of Q2, shares -1.1% AH

In its Q3 interim update, Chevron (CVX) says it expects earnings for the quarter will fall Q/Q; upstream results likely will be slightly higher than the prior quarter while downstream earnings are seen significantly lower.

Worldwide oil and gas production rose slightly from a depressed Q2 level, with maintenance in the Gulf of Mexico curbing overall output; U.S. production fell to 651K boe/day in July and August from an average of 659K for the entire Q2.

Shares -1.1% AH.

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Comments (9)
  • Michael Fitzsimmons
    , contributor
    Comments (11851) | Send Message
    Well this update was a bit of a disappointment - I would have expected CVX to benefit from higher Brent prices. But I bet CPChem, the 50/50 chemicals JV with PSX, will deliver very nice quarterly results.
    9 Oct 2013, 05:50 PM Reply Like
    , contributor
    Comments (5172) | Send Message
    Disappointing to a degree.
    Imo, a buying opportunity for long term investors after a little dust settles from overall market BS.
    9 Oct 2013, 06:00 PM Reply Like
  • financeminister
    , contributor
    Comments (1230) | Send Message
    Why do these things happen everytime I buy a stock. Just added 10% to my intended long term CVX position.
    9 Oct 2013, 06:07 PM Reply Like
    , contributor
    Comments (5172) | Send Message
    You're not alone. It will payoff !
    You're getting a good div.and a great company. Better than buying at the $127.83 high as someone out there did !
    Whole mrkt is exaggerated by Washington crap.
    When that "settled", I believe CVX will be one of the 1st stocks to catch a lot of bids.
    Be patient. You'll prosper.
    9 Oct 2013, 06:48 PM Reply Like
  • financeminister
    , contributor
    Comments (1230) | Send Message
    yup... not worried as I'm long on everything I buy since I'm a DGI. It's just that I have this strange phenomina happen everytime I buy a stock that I just can't explain rationaly... everytime I buy a stock, it's followed by either a massive drop or stock downgrade or some sort of bad news comes in right after. I have the opposite effect of a the midas touch when I buy a stock.


    Anyway, not worried about CVX going lower, I have 50% of my long term intended position in CVX and just added 10% more yesterday. I'll scale back in if it gets lower.
    10 Oct 2013, 11:16 AM Reply Like
  • Kathy 1
    , contributor
    Comments (1059) | Send Message
    financeminister, Bahamas is right, and I understand how you feel.
    I was one of those who bought at the top. If you are a long time investor 10 plus years? It will more than double. Value plus dripping.
    Let it ride, now I have to remind myself of the same thing, it is not the price but the long term value. This volatility is goofy and you cannot time the market.
    11 Oct 2013, 02:00 PM Reply Like
  • The Dividend Bro
    , contributor
    Comments (825) | Send Message
    just added yesterday but I have a long term view so a little hiccup here isn't anything to moan about
    10 Oct 2013, 07:26 AM Reply Like
  • AnAvgJoe
    , contributor
    Comments (564) | Send Message
    Been looking to initiate a position in CVX - perhaps today is the day!
    10 Oct 2013, 09:56 AM Reply Like
    , contributor
    Comments (5172) | Send Message
    Kathy I and financeminister-
    Kathy, I obviously agree with your comments. We all can't buy at bottom nor sell at top. But as long term investors and reinvesting dividends into quality companies these day to day "issues" are irrelevant.


    Btw, CVX had a wonderful bounce off the $114.44 low of yesterday.Closed tdy at $117.67 ( 2.82% not bad for 24hrs.)!
    11 Oct 2013, 04:47 PM Reply Like
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