Chevron Beats Estimates For Q2 Earnings

- Chevron Beats Estimates For Q2 Earnings



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.

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Rosneft Net Profit Up 58% at $3.94B, Beats Expectations

Rosneft Net Profit Up 58% at $3.94B, Beats Expectations

Friday, April 29, 2011
Dow Jones Newswires
by Jacob Gronholt-Pedersen

Rosneft said first-quarter net profit rose 58% from last year on higher oil prices and crude output as well as tax breaks on its Vankor field.

London-listed Rosneft said net profit under U.S. Generally Accepted Accounting Principles rose to $3.94 billion from $2.49 billion in the first quarter of 2010, above a forecast of $3.72 billion in a Dow Jones Newswires survey of eight analysts.

Revenue increased 36% to $20.12 billion from $14.76 billion a year earlier, boosted by a surge in global crude prices as well as higher output, helped by a ramp-up of production at the huge East Siberian Vankor field. Analysts had expected revenue of $20.3 billion.

Earnings before interest, taxes, depreciation and amortization, or Ebitda, rose 50% to $6.65 billion from $4.44 billion and were above analysts' expectation of $6.42 billion.

Rosneft said it produced 2.564 million barrels of oil equivalent per day during the quarter, and lowered net debt by 19% in the three months to $11.1 billion.

Exxon Reports Strong Q1, Beats EPS By $0.08, Revs Slight Miss

Exxon Reports Strong Q1, Beats EPS By $0.08, Revs Slight Miss



Apr 28, 2011

Exxon Mobil (NYSE:XOM) reported EPS of $2.14 today, beating the consensus estimate for $2.06 per share. Revenue for the quarter was up 26% year-over-year to $114.00 billion, but fell short of the consensus estimate for $114.85 billion.