We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why the Market Dipped But Chevron (CVX) Gained Today
Read MoreHide Full Article
Chevron (CVX - Free Report) closed the latest trading day at $149.59, indicating a +0.48% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 1.02%. Meanwhile, the Dow lost 1.04%, and the Nasdaq, a tech-heavy index, lost 1.65%.
Coming into today, shares of the oil company had lost 2.26% in the past month. In that same time, the Oils-Energy sector gained 3.07%, while the S&P 500 gained 3.64%.
The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company's earnings per share (EPS) are projected to be $3.03, reflecting a 14.65% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $51.28 billion, up 0.95% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.03 per share and revenue of $213.88 billion, which would represent changes of -0.76% and +6.43%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 1% downward. As of now, Chevron holds a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Chevron has a Forward P/E ratio of 11.43 right now. For comparison, its industry has an average Forward P/E of 7.04, which means Chevron is trading at a premium to the group.
Meanwhile, CVX's PEG ratio is currently 0.8. 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 was holding an average PEG ratio of 1.52 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 218, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why the Market Dipped But Chevron (CVX) Gained Today
Chevron (CVX - Free Report) closed the latest trading day at $149.59, indicating a +0.48% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 1.02%. Meanwhile, the Dow lost 1.04%, and the Nasdaq, a tech-heavy index, lost 1.65%.
Coming into today, shares of the oil company had lost 2.26% in the past month. In that same time, the Oils-Energy sector gained 3.07%, while the S&P 500 gained 3.64%.
The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company's earnings per share (EPS) are projected to be $3.03, reflecting a 14.65% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $51.28 billion, up 0.95% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.03 per share and revenue of $213.88 billion, which would represent changes of -0.76% and +6.43%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 1% downward. As of now, Chevron holds a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Chevron has a Forward P/E ratio of 11.43 right now. For comparison, its industry has an average Forward P/E of 7.04, which means Chevron is trading at a premium to the group.
Meanwhile, CVX's PEG ratio is currently 0.8. 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 was holding an average PEG ratio of 1.52 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 218, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.