Chevron Corp. (CVX), the focus of Money Morning’s “Buy, Sell or Hold?” feature back in late July, said it's predicting a jump in its third-quarter results, despite a decline in oil-and-gas output.

Without offering actual financial details, the second-biggest U.S. oil company said in its interim update that it “expects third-quarter earnings to exceed those of 2008’s second quarter.” The San Ramon, Calif.-based Chevron attributed the improved results to higher energy prices and better refining margins - both factors that were predicted by Money Morning Contributing Editor Horacio Marquez.