Chevron Stays on the Treadmill

Chevron reported what, unfortunately, has become a typical blah quarter for this gigantic worldwide concern headquartered in the U.S. It seems that something always goes awry for Chevron. As CEO John Watson told us, "Our third quarter earnings were down from a year ago primarily reflecting lower margins for refined products in the current period." So, even though the company earned $5 billion, or $2.63 a share, in the third quarter, its stock is being hammered.

This kind of action with the majors is happening far too often. It's a disturbing trend, because this is an amazing time to be in the oil business, as we know from our domestic companies' numbers. But the major integrateds are just too large to be able to grow their reserves at anything other than a treadmill pace....530 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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