Tomahawk, WI 8/05/2013 (Basicsmedia) – Chevron Corporation (NYSE:CVX), which is also known as Chevron Corporation, has been in the news quite a lot of late. This has been attributed to the fact that the company recently reported financial returns which were lower than what was expected by industry analysts. This company operates all over the world, and is a major player in the major integrated oil and gas industry. Power generation, mining, chemicals, petroleum and energy operations are services which are offered by CVX and sold worldwide. The company has employed 62,000 people full time to provide these services to its clients wherever they are in the world.

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This figure shows CVX revenue over a period of five years, from 2005-2010.

Image is courtesy of www.seekingalpha.com

Importance of Services and Products offered by CVX

CVX has been in operation since 1879 when it was founded and this has continued to date. Formerly it sued to be known as Chevron Texaco Corporation before changing its name to Chevron Corporation in 2005. In the provision of its duties, it has to contend with competition in the form of BP Plc, Exxon Mobil, and Total SA to mention but just a few. It is ranked second to Exxon Mobil in terms of market capitalization. Chevron continues to offer energy services and products which are important if the world is to move forward in terms of economic growth and this is what makes it attractive.

How Did CVX Perform Financially?

CVX latest results are not what people expected. Analysts and investors alike have been disappointed by what was recently reported, where the sales and operating revenues apparently fell by close to 8.3% to settle at $55 billion. What the analysts had estimated in the same period was around $56 billion thus signifying a shortfall of $1 billion. The earnings also didn’t reach the levels which had been expected. Analysts had estimated that the earnings would be in the region of $2.96 per share, but what was reported is $2.77. It may seem small but the actual truth is that it is quite a significant amount of money.

Despite the not-so-pleasant financial results which were recently announced, CVX stock has been on the rise for a number of years now. It may be that the figures are not what the company has managed in the past, but the fact that it is on an upward trajectory is good enough and will probably herald to better times in the future. However, what most analysts, including myself, are convinced of is that the price will most probably stay where it is right now for quite a while. CVX is performing better than other firms within this industry, but this is apparently not good enough according to some people.

However, CVX has a great future and there is hope that it will perform better. This hope is based on what is factual. CVX is expected to make a huge turnaround and more away from the period of losses and poor financial performance which was displayed on its last financial results. CVX has always been a market leader and performs much better than its competitors. This is what has driven me to state that you should not sell your CVX stock since the company is bound to turn the situation around, something which other companies would probably have been unable to do successfully.

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