Chevron Corporation is one of the worlds largest oil and natural gas companies. The following data were

Chevron Corporation is one of the world’s largest oil and natural gas companies. The following data were taken from the company’s 2010 annual report:

Required
a. Compute Chevron’s price-earnings ratio for February 28, 2011, and March 1, 2010.
b. Did the financial markets appear to be more optimistic about Chevron’s future performance on February 28, 2011, or March 1, 2010?
c. Based on the information provided, estimate approximately how many shares of stock Chevron had outstanding as of December 31,2010.

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Fiscal Years Ending December 31, December 31, 2010 2009 Net earnings (in millions) $19,186 $9.53 $10,483 $5.26 Earnings per share The following data were taken from public stock-price quotes: Stock price per share on February 28, 2011 $103.75 (Two months after the end of Chevron's 2010 fiscal year.) Stock price per share on March 1, 2010 $72.81 Two months after the end of Chevron's 2009 fiscal year.)