Chevron (NYSE: CVX) reported Q4 EPS of $0.22, which may not compare to the analyst estimate of $0.64. Revenue for the quarter came in at $30 billion versus the consensus estimate of $33.76 billion.

"Our 2016 earnings reflect the low oil and gas prices we saw during the year,” said Chairman and CEO John Watson. “We responded aggressively to those conditions, cutting capital and operating expenses by $14 billion. We are well positioned to improve earnings and be cash flow balanced in 2017 through continued tight spending and cost control and additionalrevenue from expected production growth. That confidence enabled us to increase the 2016 annual dividend payout for the 29th consecutive year.”

“We were able to reach noteworthy milestones in 2016 on major capital projects,” Watson added. “We achieved first gas and cargo shipments at our Gorgon Project in Australia, first gas at our Chuandongbei Project in China, and increased production from our Permian Basin shale and tight oil properties. In addition, we announced the final investment decision on the Future Growth and Wellhead Pressure Management Project at the company\'s 50 percent-owned affiliate, Tengizchevroil, in Kazakhstan.”

For earnings history and earnings-related data on Chevron (CVX) click here.