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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
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Chevron (CVX - Free Report) closed at $157.33 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily gain of 0.93%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Prior to today's trading, shares of the oil company had gained 1.43% over the past month. This has lagged the Oils-Energy sector's gain of 2.37% and the S&P 500's gain of 4.61% in that time.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. The company is expected to report EPS of $3.34, down 42.61% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $52.08 billion, down 24.26% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $14.23 per share and revenue of $214.1 billion. These results would represent year-over-year changes of -24.43% and -13.06%, respectively.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.1% lower. Chevron currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 11.16. This valuation marks a premium compared to its industry's average Forward P/E of 5.62.
Investors should also note that CVX has a PEG ratio of 0.78 right now. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.73 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% 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.
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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
Chevron (CVX - Free Report) closed at $157.33 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily gain of 0.93%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Prior to today's trading, shares of the oil company had gained 1.43% over the past month. This has lagged the Oils-Energy sector's gain of 2.37% and the S&P 500's gain of 4.61% in that time.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. The company is expected to report EPS of $3.34, down 42.61% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $52.08 billion, down 24.26% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $14.23 per share and revenue of $214.1 billion. These results would represent year-over-year changes of -24.43% and -13.06%, respectively.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.1% lower. Chevron currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 11.16. This valuation marks a premium compared to its industry's average Forward P/E of 5.62.
Investors should also note that CVX has a PEG ratio of 0.78 right now. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.73 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% 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.