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Chevron (CVX) Gains As Market Dips: What You Should Know
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Chevron (CVX - Free Report) closed at $166.46 in the latest trading session, marking a +1.31% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.42%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the oil company had gained 2.76% in the past month. In that same time, the Oils-Energy sector gained 4.17%, while the S&P 500 gained 1.02%.
Chevron will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.27, down 41.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $52.56 billion, down 21.14% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $13.19 per share and revenue of $203.28 billion. These results would represent year-over-year changes of -29.95% and -17.45%, respectively.
Investors might also notice recent changes to analyst estimates for Chevron. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.71% higher. Chevron currently has a Zacks Rank of #3 (Hold).
Investors should also note Chevron's current valuation metrics, including its Forward P/E ratio of 12.45. This represents a premium compared to its industry's average Forward P/E of 7.
We can also see that CVX currently has a PEG ratio of 0.87. 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 0.83 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 12% 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) Gains As Market Dips: What You Should Know
Chevron (CVX - Free Report) closed at $166.46 in the latest trading session, marking a +1.31% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.42%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the oil company had gained 2.76% in the past month. In that same time, the Oils-Energy sector gained 4.17%, while the S&P 500 gained 1.02%.
Chevron will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.27, down 41.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $52.56 billion, down 21.14% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $13.19 per share and revenue of $203.28 billion. These results would represent year-over-year changes of -29.95% and -17.45%, respectively.
Investors might also notice recent changes to analyst estimates for Chevron. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.71% higher. Chevron currently has a Zacks Rank of #3 (Hold).
Investors should also note Chevron's current valuation metrics, including its Forward P/E ratio of 12.45. This represents a premium compared to its industry's average Forward P/E of 7.
We can also see that CVX currently has a PEG ratio of 0.87. 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 0.83 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 12% 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.