Energy
Chevron Beats Estimates, Signaling Rebound From Difficult 2023
- Oil explorer raises payout to investors more than anticipated
- Oil-production growth driven by advances in US Permian Basin
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Chevron Corp. beat earnings estimates and raised dividends after posting record oil and natural gas production, boosting Chief Executive Officer Mike Wirth’s effort to rebound from a year of missed performance targets.
Adjusted earnings of $3.45 a share exceeded the Bloomberg Consensus estimate by 23 cents. Chevron raised its dividend by almost 8% to $1.63 a share, also ahead of forecasts.