Tuesday, August 6, 2013

Investopedia: Chevron Disappoints, But Offers A Little Value

With the results in hand from Exxon Mobil (NYSE:XOM) and refiners like Valero (NYSE:VLO) the big surprise for the second quarter would have been if Chevron (NYSE: CVX) had posted a good quarter in refining. Chevron didn't do so, and the company's performance in the upstream E&P business was also a little light. Coupled with a somewhat higher capex spend this quarter, it was a pretty “blah” report for this international energy major. By the same token, given that growth isn't going to really change much until Gorgon gets going (around 2015), it's not a story-changing quarter and Chevron continues to look like a decent pick in the major energy space.

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