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Chevron (CVX) Dips More Than Broader Markets: What You Should Know
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Chevron (CVX - Free Report) closed at $138.92 in the latest trading session, marking a -1.83% move from the prior day. This change lagged the S&P 500's 0.92% loss on the day. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.05%.
Heading into today, shares of the oil company had lost 15.43% over the past month, outpacing the Oils-Energy sector's loss of 16.76% and lagging the S&P 500's loss of 1% in that time.
Wall Street will be looking for positivity from Chevron as it approaches its next earnings report date. This is expected to be July 29, 2022. The company is expected to report EPS of $4.87, up 184.8% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $55.13 billion, up 46.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.89 per share and revenue of $223.56 billion, which would represent changes of +120.05% and +37.6%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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 3.71% higher. Chevron is currently a Zacks Rank #3 (Hold).
In terms of valuation, Chevron is currently trading at a Forward P/E ratio of 7.91. This represents a premium compared to its industry's average Forward P/E of 4.05.
Investors should also note that CVX has a PEG ratio of 0.6 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.41 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 38, 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.
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Chevron (CVX) Dips More Than Broader Markets: What You Should Know
Chevron (CVX - Free Report) closed at $138.92 in the latest trading session, marking a -1.83% move from the prior day. This change lagged the S&P 500's 0.92% loss on the day. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.05%.
Heading into today, shares of the oil company had lost 15.43% over the past month, outpacing the Oils-Energy sector's loss of 16.76% and lagging the S&P 500's loss of 1% in that time.
Wall Street will be looking for positivity from Chevron as it approaches its next earnings report date. This is expected to be July 29, 2022. The company is expected to report EPS of $4.87, up 184.8% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $55.13 billion, up 46.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.89 per share and revenue of $223.56 billion, which would represent changes of +120.05% and +37.6%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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 3.71% higher. Chevron is currently a Zacks Rank #3 (Hold).
In terms of valuation, Chevron is currently trading at a Forward P/E ratio of 7.91. This represents a premium compared to its industry's average Forward P/E of 4.05.
Investors should also note that CVX has a PEG ratio of 0.6 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.41 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 38, 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.