NEW YORK, September 10, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Chevron Corporation (NYSE: CVX). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=CVX  

Highlights from our CVX Report include:

• Q2 2015 Results at a Glance - On July 31, 2015, the US-based energy producer, Chevron Corporation (Chevron) announced results for the second quarter ended June 30, 2015. Sales and other operating revenues declined to $37 billion in Q2 2015, as against $56 billion in the year ago-period, reflecting an annual downtick by 33.9%. Earnings were reported at $571 million, or $0.30 per diluted share in Q2 2015, compared to $5.7 billion, or $2.98 per diluted share recorded in the same period previous year. Chevron informed that the results for Q2 2015 comprised of the non-cash charges stemming from a downward revision in the Company's longer-term crude oil price outlook. However, a gain of $1.80 billion on asset sales in Q2 2015 partially offset the negative impact of the above-mentioned charges.

• Results from Upstream operations - Impacted by sharply lower crude oil realizations and higher depreciation expenses, the US upstream operations incurred a loss of $1.04 billion in Q2 2015, against earnings $1.05 billion in Q2 2014. Internationally, upstream operations incurred a loss of $1.18 billion compared to earnings of $4.21 billion in Q2 2014. The average sales price per barrel of crude oil and natural gas liquids in US was $50 in Q2 2015, down from $92 in Q2 2014; while internationally, it was $56 per barrel, down from $101 a year earlier. Net oil-equivalent production in US increased 9% year-over-year to 730,000 barrels per day in Q2 2015, while internationally, it declined by less than a percent to 1.87 million barrels per day.

• Results from Downstream operations - Chevron informed that higher margins on refined product sales resulted in an earnings of $731 million from the US downstream operations in Q2 2015, compared to $517 million earned in Q2 2014. On the other hand, International downstream operations earned $2.23 billion compared with $204 million a year earlier, driven mainly by a $1.6 billion gain from the sale of the company's interest in Caltex Australia Ltd. Refinery crude oil input from US grew to 916,000 barrels per day, up 155,000 barrels per day from Q2 2014. However, refinery crude oil input from international markets declined to 774,000 barrels per day in Q2 2015, down 70,000 barrels per day from the year-ago period.

To find out how this influences our rating on Chevron Corporation, read the full report in its entirety here: http://www.aciassociation.com/?c=CVX

About ACI Association: 

Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:  

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "CFA®"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the CFA® have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the CFA® (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.

NO WARRANTY 

ACI Association, the Author, the Reviewer and the CFA® (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING 

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.

RESTRICTIONS 

ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia. Do not send email to robottrap (at) aciassociation.com.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE www.aciassociation.com