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Chevron (CVX) Suffers a Larger Drop Than the General Market: Key Insights
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Chevron (CVX - Free Report) closed the most recent trading day at $146.75, moving -2.04% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.24%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, added 0.23%.
Prior to today's trading, shares of the oil company had lost 3.24% lagged the Oils-Energy sector's loss of 1.72% and the S&P 500's gain of 1.31%.
The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company is expected to report EPS of $1.54, down 25.24% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $53.61 billion, up 2.65% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.42 per share and a revenue of $191.73 billion, representing changes of -26.17% and -5.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.3% higher within the past month. Chevron is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Chevron is at present trading with a Forward P/E ratio of 20.2. For comparison, its industry has an average Forward P/E of 10.94, which means Chevron is trading at a premium to the group.
Also, we should mention that CVX has a PEG ratio of 8.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CVX's industry had an average PEG ratio of 1.86 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 35% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Suffers a Larger Drop Than the General Market: Key Insights
Chevron (CVX - Free Report) closed the most recent trading day at $146.75, moving -2.04% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.24%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, added 0.23%.
Prior to today's trading, shares of the oil company had lost 3.24% lagged the Oils-Energy sector's loss of 1.72% and the S&P 500's gain of 1.31%.
The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company is expected to report EPS of $1.54, down 25.24% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $53.61 billion, up 2.65% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.42 per share and a revenue of $191.73 billion, representing changes of -26.17% and -5.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.3% higher within the past month. Chevron is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Chevron is at present trading with a Forward P/E ratio of 20.2. For comparison, its industry has an average Forward P/E of 10.94, which means Chevron is trading at a premium to the group.
Also, we should mention that CVX has a PEG ratio of 8.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CVX's industry had an average PEG ratio of 1.86 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 35% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.