Chevron beat earnings by 12% but analysts set price targets from $124 to $188

Chevron just proved that in the oil business, beating expectations can still feel like a participation trophy. The energy giant delivered $1.77 per share when analysts expected $1.65, which sounds impressive until you remember they made $2.55 per share last year. That's like celebrating a B+ when you used to get straight A's.

The company pulled in $44.82 billion in revenue, nudging past the $44.59 billion estimate by the financial equivalent of finding a twenty in your old jeans. The problem? That's still 12.4% less than last year, proving that sometimes winning feels a lot like losing in slo...