Chevron Earnings Disappoint. Why the Oil Major’s CFO Still Sees Upside in the Stock.
Yahoo! Finance
After its stock rose 53% last year, Chevron now faces a higher hurdle to keep the momentum going. One reason for the miss may have been that the company’s exploration expenses were higher than analysts had expected, said Chevron CFO Pierre Breber in an interview. Breber noted that the company’s last two quarterly earnings results were more than 10% higher than Wall Street had expected, suggesting that analysts overcorrected in the other direction in the latest quarter.
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