Notes From All Over -- January 28, 2022

Rigzone: Chevron profit falls short of forecasts.  

Chevron linked the earnings miss to the shrinking value of legacy assets including a stake in an Australian gas development known as the Northwest Shelf, which the company has been trying to sell since 2020. Higher royalty and tax payments tied to rising commodity prices also played a role, as well as the timing of some gas trades.

CVX CEO Michael Wirth on CNBC this morning. Great interview. My takeaway:

• long-term investors are happy;
• numbers will continue to get better;
• recent investors will be disappointed

Re-posting: 

CVX misses. Now we know why the company pre-announced a dividend increase yesterday.

Link here.

CVX: anticipating 4Q21 earnings. IBD yesterday: estimate: $3.14 EPS. 

4Q21 EPS: $2.63 vs $3.15 estimate

Full year: $8.14 vs $8.15 estimate.

• Fourth quarter earnings of $5.1 billion; annual earnings of $15.6 billion

• Strong cash flow from operations of $29.2 billion in 2021

• Record free cash flow of $21.1 billion in 2021

• Dividends and share repurchases of $11.6 billion in 2021
  
  

Renewable energy: re-posting --

• link here;
• not going so well for Saudi Aramco;

Now, today: Shell's renewable boss steps down after less than two years. Link here. Or go direct to Reuters.