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Chevron Delivers Earnings Beat, Capex Cut And Repurchase Program Scrapped For 2015

Chevron (CVX) recently reported its fourth quarter and full year earnings, showing how it has done well to shield itself from the drastic impact of declining oil prices. While the company's downstream segment was its saving grace, earnings did decline year over year but managed to beat analyst estimates. The company has been pulling out of certain projects due to tumbling oil prices, and has also put share repurchases on hold for 2015. Cash flows continue to remain under pressure going forward, even after curtailing repurchases spending for the year.

Fourth quarter recap

Quarterly revenues for Chevron were reported at $42 billion, down by nearly 22% over the prior year's figures. However, the company was able to beat analyst estimates for revenues, which amounted to $30.6 billion for the quarter.

Chevron's fourth quarter earnings dipped sharply by30%, down to $3.47 billion for the quarter. The company saw the stellar… Read More …