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Chevron (CVX) Increases Despite Market Slip: Here's What You Need to Know
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The most recent trading session ended with Chevron (CVX - Free Report) standing at $144.87, reflecting a +0.04% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.54% for the day. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq decreased by 0.84%.
The the stock of oil company has fallen by 1.9% in the past month, lagging the Oils-Energy sector's gain of 1.44% and the S&P 500's gain of 8.62%.
Market participants will be closely following the financial results of Chevron in its upcoming release. The company's earnings per share (EPS) are projected to be $3.67, reflecting a 10.27% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $55.46 billion, down 1.8% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.35 per share and a revenue of $208.99 billion, signifying shifts of -29.1% and -15.13%, respectively, from the last year.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.89% decrease. Chevron is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Chevron currently has a Forward P/E ratio of 10.85. This indicates a premium in contrast to its industry's Forward P/E of 6.78.
We can additionally observe that CVX currently boasts a PEG ratio of 0.76. 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. As the market closed yesterday, the Oil and Gas - Integrated - International industry was having an average PEG ratio of 0.84.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Chevron (CVX) Increases Despite Market Slip: Here's What You Need to Know
The most recent trading session ended with Chevron (CVX - Free Report) standing at $144.87, reflecting a +0.04% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.54% for the day. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq decreased by 0.84%.
The the stock of oil company has fallen by 1.9% in the past month, lagging the Oils-Energy sector's gain of 1.44% and the S&P 500's gain of 8.62%.
Market participants will be closely following the financial results of Chevron in its upcoming release. The company's earnings per share (EPS) are projected to be $3.67, reflecting a 10.27% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $55.46 billion, down 1.8% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.35 per share and a revenue of $208.99 billion, signifying shifts of -29.1% and -15.13%, respectively, from the last year.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.89% decrease. Chevron is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Chevron currently has a Forward P/E ratio of 10.85. This indicates a premium in contrast to its industry's Forward P/E of 6.78.
We can additionally observe that CVX currently boasts a PEG ratio of 0.76. 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. As the market closed yesterday, the Oil and Gas - Integrated - International industry was having an average PEG ratio of 0.84.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.