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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
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Chevron (CVX - Free Report) closed at $164.32 in the latest trading session, marking a -1.22% move from the prior day. This change lagged the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 0.44%.
Coming into today, shares of the oil company had gained 15.52% in the past month. In that same time, the Oils-Energy sector gained 7.99%, while the S&P 500 gained 4.69%.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. The company is expected to report EPS of $3.21, up 256.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $45.03 billion, up 40.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.80 per share and revenue of $185.07 billion. These totals would mark changes of +57.44% and +13.92%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.55% higher. Chevron is currently a Zacks Rank #3 (Hold).
Investors should also note Chevron's current valuation metrics, including its Forward P/E ratio of 13. This valuation marks a premium compared to its industry's average Forward P/E of 5.7.
Investors should also note that CVX has a PEG ratio of 0.99 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.73 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.
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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
Chevron (CVX - Free Report) closed at $164.32 in the latest trading session, marking a -1.22% move from the prior day. This change lagged the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 0.44%.
Coming into today, shares of the oil company had gained 15.52% in the past month. In that same time, the Oils-Energy sector gained 7.99%, while the S&P 500 gained 4.69%.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. The company is expected to report EPS of $3.21, up 256.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $45.03 billion, up 40.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.80 per share and revenue of $185.07 billion. These totals would mark changes of +57.44% and +13.92%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.55% higher. Chevron is currently a Zacks Rank #3 (Hold).
Investors should also note Chevron's current valuation metrics, including its Forward P/E ratio of 13. This valuation marks a premium compared to its industry's average Forward P/E of 5.7.
Investors should also note that CVX has a PEG ratio of 0.99 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.73 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.