Chevron Analysis: Dow Earnings

BOSTON (TheStreet) -- Chevron (CVX) has reported quarterly results.

Quarterly Synopsis: Chevron's fourth-quarter GAAP net income soared 72% to $5.3 billion, boosted by $400 million of gains from downstream asset sales. Diluted earnings per share gained 73% to $2.64. Revenue stretched 8% to $52 billion. The quarterly results were helped by higher crude-oil prices and increased production levels. Chevron's upstream unit grew profit 16% to $4.8 billion and its downstream unit swung to a profit of $742 million from a year-earlier loss of $673 million. The company added 240 million barrels of net oil-equivalent reserves for the full year. The buyout program picked up in the fourth quarter, with $750 million of stock purchased.

Earnings Performance: Chevron delivered adjusted quarterly earnings of $2.51, representing 44% year-over-year growth and exceeding the Wall Street consensus by 4.5%. The company missed expectations by 12% in the previous quarter, but has an average earnings beat rate of 3.9%. Chevron's top-line figure missed the consensus target by 12%, but signified 9.3% year-over-growth. The company has now missed on the top line for four consecutive quarters.

Dividend Information: Chevron pays a quarterly dividend of 72 cents, converting to an annual yield of 3.1%. It has boosted the distribution 6.8% in 12 months and 7.9% and 10% annually, on average, over three- and five-year spans.

Analyst Opinions: Of analysts following Chevron, 18, or 72%, rate its stock "buy" and seven rate it "hold." None rank it "sell." The stock has a median target of $104.47.

Barclays, Overweight, $113 Target
UBS, Buy, $110 Target
Citigroup, Buy, $108 Target
Deutsche Bank, Hold, $105 Target
Goldman Sachs, Neutral, $105 Target
Credit Suisse, Outperform, $103 Target
JPMorgan, Neutral, $103 Target
Blockbuster Timeline

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

More from Investing

The Stock Market Has Every Reason to See a Fresh Rally

The Stock Market Has Every Reason to See a Fresh Rally

3 Simple Tips on Investing From TheStreet's Jim Cramer

3 Simple Tips on Investing From TheStreet's Jim Cramer

Tesla's Supercharger Network Is Booming -- Here's Why That's a Concern

Tesla's Supercharger Network Is Booming -- Here's Why That's a Concern

After PayPal Buys iZettle, Pay-Tech Firms Could Process These Deals

After PayPal Buys iZettle, Pay-Tech Firms Could Process These Deals

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly