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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 $102.50, moving -0.85% from the previous trading session. This change lagged the S&P 500's 0.7% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.23%.
Prior to today's trading, shares of the oil company had gained 8.82% over the past month. This has outpaced the Oils-Energy sector's gain of 4.66% and the S&P 500's gain of 0.18% in that time.
CVX will be looking to display strength as it nears its next earnings release. On that day, CVX is projected to report earnings of $0.88 per share, which would represent a year-over-year decline of 31.78%. Meanwhile, our latest consensus estimate is calling for revenue of $31.22 billion, down 0.89% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.06 per share and revenue of $127.97 billion, which would represent changes of +2630% and +35.14%, respectively, from the prior year.
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.
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.
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 50.1% higher within the past month. CVX is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 20.43. This represents a premium compared to its industry's average Forward P/E of 14.11.
It is also worth noting that CVX currently has a PEG ratio of 4.09. 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 1.09 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 39, which puts it in the top 16% 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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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
Chevron (CVX - Free Report) closed the most recent trading day at $102.50, moving -0.85% from the previous trading session. This change lagged the S&P 500's 0.7% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.23%.
Prior to today's trading, shares of the oil company had gained 8.82% over the past month. This has outpaced the Oils-Energy sector's gain of 4.66% and the S&P 500's gain of 0.18% in that time.
CVX will be looking to display strength as it nears its next earnings release. On that day, CVX is projected to report earnings of $0.88 per share, which would represent a year-over-year decline of 31.78%. Meanwhile, our latest consensus estimate is calling for revenue of $31.22 billion, down 0.89% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.06 per share and revenue of $127.97 billion, which would represent changes of +2630% and +35.14%, respectively, from the prior year.
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.
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.
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 50.1% higher within the past month. CVX is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 20.43. This represents a premium compared to its industry's average Forward P/E of 14.11.
It is also worth noting that CVX currently has a PEG ratio of 4.09. 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 1.09 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 39, which puts it in the top 16% 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.