Chevron (CVX - Free Report) closed the most recent trading day at $72.30, moving -0.55% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.4%. Meanwhile, the Dow lost 1.34%, and the Nasdaq, a tech-heavy index, lost 1.57%.
Prior to today's trading, shares of the oil company had lost 11.27% over the past month. This has lagged the Oils-Energy sector's loss of 9.42% and the S&P 500's loss of 0.46% in that time.
Wall Street will be looking for positivity from CVX as it approaches its next earnings report date. On that day, CVX is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 106.92%. Our most recent consensus estimate is calling for quarterly revenue of $25.46 billion, down 29.51% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $0.01 per share and revenue of $101.44 billion. These results would represent year-over-year changes of -99.84% and -30.77%, respectively.
Investors should also note any recent changes to analyst estimates for CVX. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 93.88% lower. CVX is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CVX has a Forward P/E ratio of 12116.67 right now. This represents a premium compared to its industry's average Forward P/E of 24.48.
We can also see that CVX currently has a PEG ratio of 2423.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 14.5 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 227, which puts it in the bottom 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.
You can find more information on all of these metrics, and much more, on Zacks.com.