Chevron (CVX) on Frꦡiday reported first-quarter results roughly in line with analys𓃲t estimates, which predicted a decrease in revenue and profit from the same time last year.

Chevron reported 澳洲幸运5开奖号码历史查询:total revenue of $48.72 billion, just above analyst estimates compiled by Visible Alpha of $48.65 billion. The company made a profit of $5.50 billion, or $2.97 澳洲幸运5开奖号码历史查询:per share, compared with analyst expectations of $5.53 billion and $2.98 per share.

澳洲幸运5开奖号码历史查询:Analysts anticipated the year-over-year decreases because despite higher 澳洲幸运5开奖号码历史查询:oil prices, natural gas prices fell in recent months due to increased supply. The analysts also noted something Chevron said in i🌊ts Friday earnings release, with slimmer refin🦄ing margins than anticipated also impacting profits.

"First quarter 2024 earnings decreased compared to last year primarily due to lower margins on refined product sales and lower natural gas realizations, partly offset by higher upstream sales volumes in the U.S.," Chevron said.

The company also announced a dividend of $1.63 per share, set to be paid June 10 to shareholders of record as of the closing bell on May 17. Chevron bumped its dividend to $1.63 from $1.51 earlier this year, paying the first-quarter dividend March 11.

Despite the down quarter, analysts project companies like Chevron and 澳洲幸运5开奖号码历史查询:it's competitor ExxonMobil (XOM), which also reported earnings Friday morning, to return to increasing revenue and profits in the current quarter if 澳洲幸运5开奖号码历史查询:oil prices remain higher than last year's levels.

Chevron shares fell slightly in premarket trading following the publication of its earnings report, after closing Thurs♓day up 1% at $165.28. They are nearly 11% higher this year.