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Chevron’s Q1 Results Match Expectations (CVX)

Integrated oil giant Chevron Corporation ( CVX ) on Friday posted in-line first quarter earnings results, as higher oil prices offset lower production.

The San Ramon, CA-based company reported first quarter net income of $6.47 billion, or $3.27 per share, compared with $6.21 billion, or $3.09 per share in the year-ago period.

Revenue edged slightly higher from last year to $60.7 billion.

On average, Wall Street analysts expected a matching profit of $3.27 per share.

Chevron shares were mostly flat in morning trading Friday.

The Bottom Line

Shares of Chevron ( CVX ) have a 3.39% dividend yield, based on last night's closing stock price of $106.22. The stock has technical support in the $100 price area. If the shares can firm up, we see overhead resistance around the $110-$11i price levels.

Chevron Corporation ( CVX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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