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Chevron (CVX) Gains But Lags Market: What You Should Know
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In the latest trading session, Chevron (CVX - Free Report) closed at $176.04, marking a +0.49% move from the previous day. This move lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Heading into today, shares of the oil company had gained 3.2% over the past month, lagging the Oils-Energy sector's gain of 3.67% and outpacing the S&P 500's loss of 0.94% 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 January 27, 2023. In that report, analysts expect Chevron to post earnings of $4.30 per share. This would mark year-over-year growth of 67.97%. Our most recent consensus estimate is calling for quarterly revenue of $54.59 billion, up 13.43% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Chevron. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.36% lower within the past month. Chevron is currently a Zacks Rank #3 (Hold).
Digging into valuation, Chevron currently has a Forward P/E ratio of 10.78. This valuation marks a premium compared to its industry's average Forward P/E of 5.29.
Investors should also note that CVX has a PEG ratio of 0.76 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. CVX's industry had an average PEG ratio of 0.66 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Chevron (CVX) Gains But Lags Market: What You Should Know
In the latest trading session, Chevron (CVX - Free Report) closed at $176.04, marking a +0.49% move from the previous day. This move lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Heading into today, shares of the oil company had gained 3.2% over the past month, lagging the Oils-Energy sector's gain of 3.67% and outpacing the S&P 500's loss of 0.94% 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 January 27, 2023. In that report, analysts expect Chevron to post earnings of $4.30 per share. This would mark year-over-year growth of 67.97%. Our most recent consensus estimate is calling for quarterly revenue of $54.59 billion, up 13.43% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Chevron. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.36% lower within the past month. Chevron is currently a Zacks Rank #3 (Hold).
Digging into valuation, Chevron currently has a Forward P/E ratio of 10.78. This valuation marks a premium compared to its industry's average Forward P/E of 5.29.
Investors should also note that CVX has a PEG ratio of 0.76 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. CVX's industry had an average PEG ratio of 0.66 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.