NEW YORK (TheStreet) -- Shares of Chevron (CVX) - Get Report are down 0.71% to $101.53 this afternoon as the San Ramon, CA-based oil and gas company prepares to report 2016 second quarter results before the opening bell on Friday.
Analysts surveyed by Thomson Reuters are looking for earnings of 32 cents on revenue of $28.7 billion. For the 2015 second quarter, Chevron reported earnings of 83 cents per share and revenue of $40.36 billion.
Weighing on Chevron stock today are declining oil prices, which are falling to three-month lows.
Crude oil (WTI) is down 1.55% to $41.27 per barrel and Brent crude is falling 1.59% to $42.78 per barrel.
Oil has been on the decline recently as concern over a global fuel glut rises. Genscape added to the bearish sentiment today, reporting a build of 328,000 barrels at the Cushing, OK delivery hub for U.S. crude oil futures, CNBC reports.
Baker Hughes (BHI) said today that it does not expect a substantial recovery in drilling and pricing in North America this year, Reuters reports. "I don't subscribe to the hopeful commentary," said Baker Hughes CEO Martin Craighead.
Separately, 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 rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, TheStreet Ratings finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and poor profit margins.
You can view the full analysis from the report here: CVX