Chevron (CVX) Plans 13% Lower Capital Budget for FY15
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UPDATE: Chevron (CVX) Suspends Share Buyback for 2015, Says CFO
January 30, 2015 11:09 AM EST(Updated - January 30, 2015 11:12 AM EST)
Chevron (NYSE: CVX) hit session lows Friday after its CFO said on a conference call it is suspending its share buyback for 2015. In 2014 it spent $5 billion on buyback.
Shares are down just over 2.5%.
... MoreChevron (CVX) Tops Q4 EPS Views
January 30, 2015 8:30 AM ESTChevron (NYSE: CVX) reported Q4 EPS of $1.85, $0.21 better than the analyst estimate of $1.64. Revenue for the quarter came in at $46.1 billion versus the consensus estimate of $30.65 billion.
Our 2014 earnings were down from the previous year, largely due to the sharp decline in crude oil prices, said Chairman and CEO John Watson. Improved downstream results and higher gains on asset sales related to our divestment program partially offset the effect of lower crude prices.
In 2014, we continued to fund investments in key major capital projects under construction and raised the dividend payout on our common... More
