Chevron’s Q4 Profit Surges 71%, Beating View (CVX)

Filed in Chevron, dividend, Gold Investing, o, revenue, shares by on January 28, 2011 0 Comments

Oil producer Chevron Corporation ( CVX ) on Friday posted a 71% gain in fourth quarter profit on higher revenue and a big one-time gain, beating analyst estimates. The San Ramon, CA-based company reported fourth quarter net income of $5.3 billion, or $2.64 per share, compared with $3.1 billion, or $1.53 per share, in the year-ago period. Revenue rose 11% from last year to $54 billion. On average, Wall Street analysts expected a smaller profit of $2.35 per share, albeit on higher revenue of $60 billion. Chevron shares fell 45 cents, or -0.5%, in premarket trading Friday. The Bottom Line We have been recommending shares of Chevron ( CVX ) since Oct.8, 2009, when the stock was trading at $70.51. The company has 3.04% dividend yield, based on last night’s closing stock price of $94.75. Chevron Corporation ( CVX ) is a “Recommended” dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Chevron’s Q4 Profit Surges 71%, Beating View (CVX)

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