Jul 29, 2011
Chevron (NYSE:CVX) reported Q2 EPS of $3.85, beating analyst estimates of $3.56 per share. Revenues for the quarter were $71.58 billion, topping analyst estimates with $66.70 billion.
Chairman and CEO John Watson said, "Our second quarter financial performance was very strong. Earnings gains versus last year's quarter were primarily in our oil and gas exploration and production business, resulting from higher crude oil prices on world markets. We continued to advance our major capital projects, resumed important exploration and development drilling activity in the deepwater Gulf of Mexico and acquired new upstream resource opportunities in the second quarter."
Chevron (NYSE:CVX) has a potential upside of 16.9% based on a current price of $105.03 and an average consensus analyst price target of $122.79.
Oil & Gas Post
Promote Your Page Too
No comments:
Post a Comment