Why Chevron Stock Is Slumping Today

Shares of Chevron (NYSE: CVX) had fallen about 5% by 10:30 a.m. ET on Friday, erasing more than $5 billion of market value. The culprit was the oil giant's fourth-quarter results, which fell short of expectations.

Chevron reported earnings of $5.1 billion, or $2.65 per share, for the fourth quarter. That came in well short of the analysts' consensus that the oil giant would post $3.12 per share in profit.

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Source Fool.com