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Chevron (CVX) Stock Moves -0.29%: What You Should Know
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In the latest market close, Chevron (CVX - Free Report) reached $150.48, with a -0.29% movement compared to the previous day. This change was narrower than the S&P 500's daily loss of 0.92%. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, lost 1.6%.
The the stock of oil company has risen by 2.35% in the past month, leading the Oils-Energy sector's loss of 9.71% and undershooting the S&P 500's gain of 2.68%.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company is scheduled to release its earnings on November 1, 2024. On that day, Chevron is projected to report earnings of $2.66 per share, which would represent a year-over-year decline of 12.79%. Simultaneously, our latest consensus estimate expects the revenue to be $51.12 billion, showing a 5.47% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $10.86 per share and a revenue of $200.23 billion, demonstrating changes of -17.29% and -0.36%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Chevron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.4% lower. Chevron is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 13.89. This represents a premium compared to its industry's average Forward P/E of 8.08.
We can also see that CVX currently has a PEG ratio of 3.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.85.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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) Stock Moves -0.29%: What You Should Know
In the latest market close, Chevron (CVX - Free Report) reached $150.48, with a -0.29% movement compared to the previous day. This change was narrower than the S&P 500's daily loss of 0.92%. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, lost 1.6%.
The the stock of oil company has risen by 2.35% in the past month, leading the Oils-Energy sector's loss of 9.71% and undershooting the S&P 500's gain of 2.68%.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company is scheduled to release its earnings on November 1, 2024. On that day, Chevron is projected to report earnings of $2.66 per share, which would represent a year-over-year decline of 12.79%. Simultaneously, our latest consensus estimate expects the revenue to be $51.12 billion, showing a 5.47% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $10.86 per share and a revenue of $200.23 billion, demonstrating changes of -17.29% and -0.36%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Chevron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.4% lower. Chevron is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 13.89. This represents a premium compared to its industry's average Forward P/E of 8.08.
We can also see that CVX currently has a PEG ratio of 3.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.85.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.