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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
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Chevron (CVX - Free Report) closed the most recent trading day at $173.13, moving -0.03% from the previous trading session. This change lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.2%.
Prior to today's trading, shares of the oil company had gained 19.63% over the past month. This has outpaced the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% in that time.
Wall Street will be looking for positivity from Chevron as it approaches its next earnings report date. This is expected to be October 28, 2022. The company is expected to report EPS of $5.10, up 72.3% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $58.96 billion, up 31.86% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $18.69 per share and revenue of $236.95 billion. These results would represent year-over-year changes of +129.89% and +45.84%, respectively.
It is also important to note the recent changes to analyst estimates for Chevron. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.73% higher. Chevron is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Chevron has a Forward P/E ratio of 9.27 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.01.
It is also worth noting that CVX currently has a PEG ratio of 0.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 the most recent trading day at $173.13, moving -0.03% from the previous trading session. This change lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.2%.
Prior to today's trading, shares of the oil company had gained 19.63% over the past month. This has outpaced the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% in that time.
Wall Street will be looking for positivity from Chevron as it approaches its next earnings report date. This is expected to be October 28, 2022. The company is expected to report EPS of $5.10, up 72.3% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $58.96 billion, up 31.86% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $18.69 per share and revenue of $236.95 billion. These results would represent year-over-year changes of +129.89% and +45.84%, respectively.
It is also important to note the recent changes to analyst estimates for Chevron. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.73% higher. Chevron is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Chevron has a Forward P/E ratio of 9.27 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.01.
It is also worth noting that CVX currently has a PEG ratio of 0.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.