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Chevron (CVX) Dips More Than Broader Markets: What You Should Know
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Chevron (CVX - Free Report) closed at $172.33 in the latest trading session, marking a -0.69% move from the prior day. This change lagged the S&P 500's 0.61% loss on the day. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq added 0.17%.
Heading into today, shares of the oil company had lost 7.72% over the past month, lagging the Oils-Energy sector's loss of 4.66% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. In that report, analysts expect Chevron to post earnings of $4.38 per share. This would mark year-over-year growth of 71.09%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $54.84 billion, up 13.95% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $19.17 per share and revenue of $239.31 billion. These results would represent year-over-year changes of +135.79% and +47.3%, respectively.
Investors should also note any recent changes to analyst estimates for Chevron. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.45% higher. Chevron is currently a Zacks Rank #3 (Hold).
Digging into valuation, Chevron currently has a Forward P/E ratio of 9.05. This represents a premium compared to its industry's average Forward P/E of 4.19.
Investors should also note that CVX has a PEG ratio of 0.62 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 industry currently had an average PEG ratio of 0.62 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Chevron (CVX) Dips More Than Broader Markets: What You Should Know
Chevron (CVX - Free Report) closed at $172.33 in the latest trading session, marking a -0.69% move from the prior day. This change lagged the S&P 500's 0.61% loss on the day. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq added 0.17%.
Heading into today, shares of the oil company had lost 7.72% over the past month, lagging the Oils-Energy sector's loss of 4.66% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. In that report, analysts expect Chevron to post earnings of $4.38 per share. This would mark year-over-year growth of 71.09%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $54.84 billion, up 13.95% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $19.17 per share and revenue of $239.31 billion. These results would represent year-over-year changes of +135.79% and +47.3%, respectively.
Investors should also note any recent changes to analyst estimates for Chevron. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.45% higher. Chevron is currently a Zacks Rank #3 (Hold).
Digging into valuation, Chevron currently has a Forward P/E ratio of 9.05. This represents a premium compared to its industry's average Forward P/E of 4.19.
Investors should also note that CVX has a PEG ratio of 0.62 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 industry currently had an average PEG ratio of 0.62 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.