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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 $101.97, marking a -1.89% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%.
Prior to today's trading, shares of the oil company had lost 5.78% over the past month. This has lagged the Oils-Energy sector's loss of 3.89% and the S&P 500's gain of 3% in that time.
Investors will be hoping for strength from CVX as it approaches its next earnings release, which is expected to be July 30, 2021. On that day, CVX is projected to report earnings of $1.41 per share, which would represent year-over-year growth of 188.68%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.22 billion, up 153.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.64 per share and revenue of $136.06 billion, which would represent changes of +2920% and +43.69%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CVX. These recent revisions tend to reflect the evolving nature of short-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 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. Within the past 30 days, our consensus EPS projection has moved 2.15% higher. CVX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 18.43. For comparison, its industry has an average Forward P/E of 7.7, which means CVX is trading at a premium to the group.
Investors should also note that CVX has a PEG ratio of 3.69 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.6 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $101.97, marking a -1.89% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%.
Prior to today's trading, shares of the oil company had lost 5.78% over the past month. This has lagged the Oils-Energy sector's loss of 3.89% and the S&P 500's gain of 3% in that time.
Investors will be hoping for strength from CVX as it approaches its next earnings release, which is expected to be July 30, 2021. On that day, CVX is projected to report earnings of $1.41 per share, which would represent year-over-year growth of 188.68%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.22 billion, up 153.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.64 per share and revenue of $136.06 billion, which would represent changes of +2920% and +43.69%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CVX. These recent revisions tend to reflect the evolving nature of short-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 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. Within the past 30 days, our consensus EPS projection has moved 2.15% higher. CVX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 18.43. For comparison, its industry has an average Forward P/E of 7.7, which means CVX is trading at a premium to the group.
Investors should also note that CVX has a PEG ratio of 3.69 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.6 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.