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Chevron (CVX) Outpaces Stock Market Gains: What You Should Know
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Chevron (CVX - Free Report) closed the most recent trading day at $159.64, moving +0.96% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Prior to today's trading, shares of the oil company had lost 0.25% over the past month. This has lagged the Oils-Energy sector's gain of 1% and the S&P 500's gain of 3.34% in that time.
Chevron will be looking to display strength as it nears its next earnings release, which is expected to be July 28, 2023. The company is expected to report EPS of $3.19, down 45.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $54.07 billion, down 21.36% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $13.83 per share and revenue of $215.5 billion. These results would represent year-over-year changes of -26.55% and -12.49%, respectively.
Investors might also notice recent changes to analyst estimates for Chevron. Recent revisions tend to reflect the latest 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. Within the past 30 days, our consensus EPS projection has moved 2.88% lower. Chevron is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Chevron is holding a Forward P/E ratio of 11.43. This represents a premium compared to its industry's average Forward P/E of 5.79.
Investors should also note that CVX has a PEG ratio of 0.8 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 0.76 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
Chevron (CVX - Free Report) closed the most recent trading day at $159.64, moving +0.96% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Prior to today's trading, shares of the oil company had lost 0.25% over the past month. This has lagged the Oils-Energy sector's gain of 1% and the S&P 500's gain of 3.34% in that time.
Chevron will be looking to display strength as it nears its next earnings release, which is expected to be July 28, 2023. The company is expected to report EPS of $3.19, down 45.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $54.07 billion, down 21.36% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $13.83 per share and revenue of $215.5 billion. These results would represent year-over-year changes of -26.55% and -12.49%, respectively.
Investors might also notice recent changes to analyst estimates for Chevron. Recent revisions tend to reflect the latest 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. Within the past 30 days, our consensus EPS projection has moved 2.88% lower. Chevron is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Chevron is holding a Forward P/E ratio of 11.43. This represents a premium compared to its industry's average Forward P/E of 5.79.
Investors should also note that CVX has a PEG ratio of 0.8 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 0.76 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.