NYSE:HES - New York Stock Exchange, Inc. - US42809H1077 - Common Stock - Currency: USD
Chevron is laying off approximately 20% of its workforce, while it won't be a smooth path, there’s more reason to be bullish than bearish on CVX stock
Caution dominates Wednesday's midday trading session in New York as investors anxiously await the Federal Open Market Committee decision at 2 p.m. ET.
Revenue rose 6% year-over-year (YoY) to $3.23 billion compared to a Wall Street estimate of $3.05 billion. Adjusted earnings per share (EPS) came in at $1.76 versus an analyst estimate of $1.5, according to FinChat.
Chevron Corp. Chief Executive Officer Mike Wirth reiterated his support for Hess Corp. in its arbitration battle with Exxon Mobil Corp. over disagreements about Guyana’s massive oil field.
Hess Corp. expressed confidence in prevailing in arbitration brought by Exxon Mobil Corp. over a massive oil project that’s key to the $53 billion Chevron Corp. takeover.
This past year has been a relatively quiet one for the oil market. It's anyone's guess what oil prices will do in 2025. Given that oil prices are tough to predict, I'm going to leave that question alone.
Hedge funds are boosting their oil positions by the fastest pace all year. Now, investors can understand some of the reasoning behind these decisions.