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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 $111.58, marking a +1.24% move from the previous day. This change lagged the S&P 500's 1.86% gain on the day. Meanwhile, the Dow gained 1.63%, and the Nasdaq, a tech-heavy index, added 2.95%.
Prior to today's trading, shares of the oil company had lost 9.63% over the past month. This has was narrower than the Oils-Energy sector's loss of 10.4% and lagged the S&P 500's loss of 8.85% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2018. On that day, CVX is projected to report earnings of $2.06 per share, which would represent year-over-year growth of 100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.79 billion, up 18.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.16 per share and revenue of $168.02 billion. These totals would mark changes of +120.54% and +18.55%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CVX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.09% lower within the past month. CVX is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, CVX currently has a Forward P/E ratio of 13.51. This represents a premium compared to its industry's average Forward P/E of 10.9.
Also, we should mention that CVX has a PEG ratio of 1.93. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.84 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 11% 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.
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 $111.58, marking a +1.24% move from the previous day. This change lagged the S&P 500's 1.86% gain on the day. Meanwhile, the Dow gained 1.63%, and the Nasdaq, a tech-heavy index, added 2.95%.
Prior to today's trading, shares of the oil company had lost 9.63% over the past month. This has was narrower than the Oils-Energy sector's loss of 10.4% and lagged the S&P 500's loss of 8.85% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2018. On that day, CVX is projected to report earnings of $2.06 per share, which would represent year-over-year growth of 100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.79 billion, up 18.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.16 per share and revenue of $168.02 billion. These totals would mark changes of +120.54% and +18.55%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CVX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.09% lower within the past month. CVX is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, CVX currently has a Forward P/E ratio of 13.51. This represents a premium compared to its industry's average Forward P/E of 10.9.
Also, we should mention that CVX has a PEG ratio of 1.93. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.84 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.