Chevron Corporation (NYSE:CVX) shares are trading lower by 3.41% at $131.75 after the company reported worse-than-expected fourth-quarter EPS results.
Chevron missed estimated earnings by 17.42%, reporting an EPS of $2.56 versus an estimate of $3.10, which surprised analysts.
Revenue was up $22.88 billion from the same period last year.
“In 2021, we delivered record free cash flow and accelerated our progress towards a lower carbon future,” said Mike Wirth, Chevron’s chairman and chief executive officer. “We’re an even better company than we were just a few years ago. We’re more capital and cost-efficient, enabling us to return more cash to shareholders.”
During 2021, Chevron says the company increased its quarterly dividend per share by 4 percent to $1.34 and repurchased $1.4 billion of company stock, all while increasing return on capital employed to 9.4 percent and reducing debt by $12.9 billion. The company raised its dividend per share an additional 6 percent to $1.42 earlier this week and guided first quarter 2022 buybacks to the top of its $3 to $5 billion annual guidance range.
Chevron is an integrated energy company with exploration, production, and refining operations worldwide.
Chevron has a 52-week high of $137.00 and a 52-week low of $84.57.
