ChevronAfter the company’s report on Friday, which showed mixed results, shares fell on Friday. This was despite rises in oil and natural gas prices.

Refinitiv’s estimates showed that Chevron received $2.56 per Share excluding certain items, while analysts were expecting $3.12 per Share. However, revenue was $48.13 billion which is higher than the $45.69 million expected.

Chevron stock fell by 3% after falling from its all-time high on Thursday.

Chevron reported that it had a record-breaking free cash flow for the year of $21.1 billion and reduced its debt by $12.9 million. This oil company earned $15.6 billion, which compares to $5.5 billion loss in 2020.

The company increased its quarterly dividend to $1.42 per shares by 8 cents (or about 6%) on Wednesday. Chevron stated in a statement, that it is now the 35th consecutive year of increasing its dividend to shareholders.

In 2021, the company had cash flows of $29.2 Billion. This is more than twice 2020’s $10.6 Billion.

Chevron’s fourth quarter results are comparable to the loss of one penny per share (adjusted) during the same quarter a year ago and $25.25 trillion in revenue. The fourth quarter of this year was marred by a loss of one cent per share on an adjusted basis and $25.25 billion in revenue. third quarter of 2021Adjusted for earnings, the company netted $2.96 per Share and $44.71 Billion in revenue.

Chevron reported that worldwide oil equivalent production decreased by 5% over the past year to 3.12 Million barrels per day. In the United States, the average sale price for oil in barrels and natural gas liquids was $63, an increase of $33 from the previous year.

Chevron’s average natural gas price in the United States increased to $4.78 for every thousand cubic feet in the fourth quarter from $1.49 the previous quarter.

Oil is now making rapid recoveries from the pandemic-era bottoms.

Brent crude, an international oil benchmark, reached $90 per barrel for the first week since October 2014. The West Texas Intermediate crude oil futures is trading at $88, its highest price in seven years.