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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Chevron (CVX - Free Report) closed at $113.25, marking a -0.23% move from the previous day. This move lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.75%, while the tech-heavy Nasdaq added 1.29%.
Prior to today's trading, shares of the oil company had gained 3.83% over the past month. This has lagged the Oils-Energy sector's gain of 13.78% and the S&P 500's gain of 12.44% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be February 1, 2019. The company is expected to report EPS of $1.97, up 169.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $41.63 billion, up 10.68% from the year-ago period.
Investors should also note any recent changes to analyst estimates for CVX. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 9.09% lower. CVX is currently a Zacks Rank #5 (Strong Sell).
Digging into valuation, CVX currently has a Forward P/E ratio of 15.58. This represents a premium compared to its industry's average Forward P/E of 10.07.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 252, which puts it in the bottom 2% 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
In the latest trading session, Chevron (CVX - Free Report) closed at $113.25, marking a -0.23% move from the previous day. This move lagged the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 0.75%, while the tech-heavy Nasdaq added 1.29%.
Prior to today's trading, shares of the oil company had gained 3.83% over the past month. This has lagged the Oils-Energy sector's gain of 13.78% and the S&P 500's gain of 12.44% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be February 1, 2019. The company is expected to report EPS of $1.97, up 169.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $41.63 billion, up 10.68% from the year-ago period.
Investors should also note any recent changes to analyst estimates for CVX. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 9.09% lower. CVX is currently a Zacks Rank #5 (Strong Sell).
Digging into valuation, CVX currently has a Forward P/E ratio of 15.58. This represents a premium compared to its industry's average Forward P/E of 10.07.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 252, which puts it in the bottom 2% 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.