From CNBC:

Chevron reports a significant drop in fourth-quarter profit due to impairment charges. However, the company managed to return a record $26.3 billion to shareholders in 2023 through dividends and share buybacks. Chevron’s net income fell 65%, with earnings per share at $3.45, beating Wall Street estimates. The company’s stock rose 3% in morning trading following the news. Chevron’s capital expenditures increased nearly 16% to $4.4 billion in the fourth quarter, compared to $3.8 billion a year ago. The company plans to increase its production by 4% to 7% in 2024.



Read more: Chevron (CVX) Q4 earnings report 2023