While it missed third quarter estimates, the company has high upstream profitability, which make Chevron’s stock a hold.
In its earnings for the third quarter of fiscal year 2013 – reported on November 1 – Chevron Corporation (CVX) reported a 1.7% increase in revenues from operations over the same quarter last year. The increase was because of higher crude oil prices and chemical commodity margins. However, lower refining and marketing margins kept EPS (earnings per share) growth from being higher.
Bidness Etc recommends shareholders to hold onto the stock and dividend-seeking investors to buy it. Investors looking for capital gains, however, should look elsewhere. Read more.