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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know

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Chevron (CVX - Free Report) closed the most recent trading day at $88.69, moving -0.76% from the previous trading session. This change lagged the S&P 500's 0.18% gain on the day. At the same time, the Dow lost 0.15%, and the tech-heavy Nasdaq gained 0.5%.

Coming into today, shares of the oil company had gained 2.68% in the past month. In that same time, the Oils-Energy sector gained 17.52%, while the S&P 500 gained 3.22%.

Investors will be hoping for strength from CVX as it approaches its next earnings release. On that day, CVX is projected to report earnings of $0.08 per share, which would represent a year-over-year decline of 94.63%. Our most recent consensus estimate is calling for quarterly revenue of $29.75 billion, down 18.16% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.08 per share and revenue of $100.27 billion, which would represent changes of -101.28% and -31.56%, respectively, from the prior year.

Investors might also notice 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 41.07% higher. CVX is holding a Zacks Rank of #3 (Hold) right now.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 9% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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