ChevronNYSE: CVX

I plan to continue padding my passive income this month.

On Friday, oil prices increased due to geopolitical tensions, leading to a rise in some oil stocks as well.

On Friday, major oil and gas companies Exxon Mobil (XOM) and Chevron (CVX) exceeded low earnings expectations for the third quarter. However, their overall net income fell compared to last year due to significantly lower profit margins on refined products, which were affected by reduced summer fuel prices.

Chevron Corporation (NYSE:CVX) will hold its Q3 2024 Results Conference Call on November 1, 2024, at 11:00 AM ET. The call will feature company representatives including Jake Spiering, Mike Wirth, and Eimear Bonner, along with participants from various financial institutions. The conference will be facilitated by Justin, who will guide the discussion.

In the third quarter, CVX distributed $2.9 billion in dividends and invested about $4.1 billion in capital and exploratory projects.

The much-anticipated Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) has been released this morning. At first look, the numbers seem low, showing only 12,000 new jobs added in October, along with downward adjustments for the previous two months.

Chevron Corporation (NYSE:CVX, ETR:CHV) saw its shares rise after the company exceeded expectations for profit and revenue in the third quarter, thanks to record production in the US and the Permian Basin. The adjusted profit was $4.5 billion, or $2.51 per share, which is lower than the $5.7 billion, or $3.05 per share, reported in the same quarter last year.

Chevron's CEO, Mike Wirth, talks about the company's strategy to cut costs, the future of oil production in the Permian Basin, and their plan for returning capital on "Bloomberg Open Interest." The company exceeded analysts' expectations for profit, production, and sales, thanks to increased oil output from the Permian Basin.

Earnings season is progressing quickly, and this week has a lot of important reports. Several major tech companies and people from various industries have shared their quarterly results, and next week looks just as promising.