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Chevron (CVX) Gains As Market Dips: What You Should Know
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Chevron (CVX - Free Report) closed at $152 in the latest trading session, marking a +1.41% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.41%.
Prior to today's trading, shares of the oil company had lost 0.77% over the past month. This has lagged the Oils-Energy sector's gain of 3.56% and the S&P 500's gain of 2.7% in that time.
The upcoming earnings release of Chevron will be of great interest to investors. The company is predicted to post an EPS of $3.03, indicating a 14.65% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $51.28 billion, indicating a 0.95% upward movement from the same quarter last year.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Chevron possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 11.5. This indicates a premium in contrast to its industry's Forward P/E of 7.31.
One should further note that CVX currently holds a PEG ratio of 0.81. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.54.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 182, finds itself in the bottom 28% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Chevron (CVX) Gains As Market Dips: What You Should Know
Chevron (CVX - Free Report) closed at $152 in the latest trading session, marking a +1.41% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.41%.
Prior to today's trading, shares of the oil company had lost 0.77% over the past month. This has lagged the Oils-Energy sector's gain of 3.56% and the S&P 500's gain of 2.7% in that time.
The upcoming earnings release of Chevron will be of great interest to investors. The company is predicted to post an EPS of $3.03, indicating a 14.65% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $51.28 billion, indicating a 0.95% upward movement from the same quarter last year.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Chevron possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 11.5. This indicates a premium in contrast to its industry's Forward P/E of 7.31.
One should further note that CVX currently holds a PEG ratio of 0.81. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.54.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 182, finds itself in the bottom 28% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 follow all of these stock-moving metrics, and many more, on Zacks.com.