Chevron Corp (CVX) released its first quarter results on Sunday, May 2, 2021. The company reported net earnings of $0.72 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 63 percent compared to the same period a year ago.
Chevron Corporation was founded in 1879 and is headquartered in San Ramon, California. Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream.
Chevron's revenue decreased 29 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 22.94% for the first quarter compared to the same period in the previous year, and operating margins decreased to 4.58% over the same period. Net earnings for past trailing twelve months were $-7765.0 million, down 300% from the prior year.
Moving on to the balance sheet, Chevron's cash levels dropped 21% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 10.09% this past year. The current ratio for Chevron now stands at 1.18. The company increased shares outstanding by 2.29%.
Shares of CVX are currently trading around $103.07. In terms of valuation, the stock is trading at a price to book ratio of 1.5.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Monday, May 3, 2021.