Before the market open on Friday, the San Ramon, CA-based energy company reported a loss of 31 cents per share, while analysts' were expecting earnings of 45 cents per share. Revenue of $28 billion was slightly below analysts' forecasts for revenue of $28.72 billion.
The loss was Chevron's first quarterly loss since 2002, according to Reuters.
The company's international upstream operations' fourth quarter earnings fell to $593 from $2.24 billion in the year-ago period. The decline was due to lower crude oil and natural gas realizations, Chevron said.
"Our 2015 earnings were down significantly from the previous year, reflecting a nearly 50% year-on-year decline in crude oil prices," CEO John Watson. "We're taking significant action to improve earnings and cash flow in this low price environment."
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: CVX