We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Chevron (CVX) Stock Sinks As Market Gains: Here's Why
Read MoreHide Full Article
Chevron (CVX - Free Report) closed at $146.86 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 0.89%, while the tech-heavy Nasdaq added 0.94%.
The stock of oil company has risen by 9.53% in the past month, leading the Oils-Energy sector's gain of 6.67% and the S&P 500's gain of 0.5%.
Analysts and investors alike will be keeping a close eye on the performance of Chevron in its upcoming earnings disclosure. In that report, analysts expect Chevron to post earnings of $1.58 per share. This would mark a year-over-year decline of 38.04%. Meanwhile, the latest consensus estimate predicts the revenue to be $46.87 billion, indicating a 8.41% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.87 per share and a revenue of $190.14 billion, representing changes of -31.64% and -6.24%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chevron. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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 shifted 3.8% upward. As of now, Chevron holds a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is currently trading at a Forward P/E ratio of 21.77. This signifies a premium in comparison to the average Forward P/E of 11.11 for its industry.
Meanwhile, CVX's PEG ratio is currently 2.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - International industry had an average PEG ratio of 1.89 as trading concluded yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 202, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Chevron (CVX) Stock Sinks As Market Gains: Here's Why
Chevron (CVX - Free Report) closed at $146.86 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 0.89%, while the tech-heavy Nasdaq added 0.94%.
The stock of oil company has risen by 9.53% in the past month, leading the Oils-Energy sector's gain of 6.67% and the S&P 500's gain of 0.5%.
Analysts and investors alike will be keeping a close eye on the performance of Chevron in its upcoming earnings disclosure. In that report, analysts expect Chevron to post earnings of $1.58 per share. This would mark a year-over-year decline of 38.04%. Meanwhile, the latest consensus estimate predicts the revenue to be $46.87 billion, indicating a 8.41% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.87 per share and a revenue of $190.14 billion, representing changes of -31.64% and -6.24%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chevron. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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 shifted 3.8% upward. As of now, Chevron holds a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is currently trading at a Forward P/E ratio of 21.77. This signifies a premium in comparison to the average Forward P/E of 11.11 for its industry.
Meanwhile, CVX's PEG ratio is currently 2.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - International industry had an average PEG ratio of 1.89 as trading concluded yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 202, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.