In somewhat belated news, Chevron – one of my core holdings – reported Q1 numbers that were down from the previous periods and missed expectations. Investors, or rather analysts were looking for $2.47 on $54.B in revenue versus the reality of $2.36 from $53.3B. That translated to a drop of 6% in revenue while profits fell by 27%.
Seen as yet another missed quarter by some, others point to the growth opportunities ahead of CVX.
From my perspective, I see a 7% increase in dividend payout, improving FCF, 5 year compound annual growth of 11% coupled with a yield north of 3%. Based in the bulk of my rules, Chevron’s good to go for another quarter.