Chevron Beats Earnings Estimates and Increases Dividend

TLDRChevron reported strong earnings, with production up 14%, driven by growth in the Permian. The company announced an 8% increase in the dividend and plans to hold capital expenditure at around $5 billion this year. The acquisition of Hess is expected to further strengthen Chevron's production growth and balance sheet.

Key insights

💰Chevron reported strong earnings, driven by growth in production, particularly in the Permian.

📈The company announced an 8% increase in the dividend, reflecting its confidence in future growth and cash flow.

⛏️Chevron plans to hold capital expenditure at around $5 billion this year, maintaining capital discipline and focusing on execution.

Q&A

What were Chevron's earnings performance?

—Chevron reported strong earnings, with production up 14% and record global oil and gas production.

Did Chevron increase its dividend?

—Yes, Chevron announced an 8% increase in the dividend, reflecting its confidence in future growth and cash flow.

What is Chevron's capital expenditure plan?

—Chevron plans to hold capital expenditure at around $5 billion this year, maintaining capital discipline and focusing on execution.

Timestamped Summary

12:08Chevron reported strong earnings, with production up 14% and growth in the Permian.

12:45Chevron announced an 8% increase in the dividend, reflecting its confidence in future growth and cash flow.

14:12Chevron plans to hold capital expenditure at around $5 billion this year, maintaining capital discipline and focusing on execution.

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