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Chevron (CVX - Free Report) ended the recent trading session at $149.80, demonstrating a +1.39% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.64%. On the other hand, the Dow registered a gain of 0.47%, and the technology-centric Nasdaq increased by 0.52%.
The stock of oil company has fallen by 1.49% in the past month, leading the Oils-Energy sector's loss of 1.94% and undershooting the S&P 500's gain of 3%.
Market participants will be closely following the financial results of Chevron in its upcoming release. It is anticipated that the company will report an EPS of $1.54, marking a 25.24% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $53.61 billion, indicating a 2.65% increase compared to the same quarter of the previous year.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 1.3% higher. Chevron is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 19.92. This signifies a premium in comparison to the average Forward P/E of 10.89 for its industry.
It's also important to note that CVX currently trades at a PEG ratio of 8.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.76 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 161, positioning it in the bottom 35% 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.
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Chevron (CVX) Laps the Stock Market: Here's Why
Chevron (CVX - Free Report) ended the recent trading session at $149.80, demonstrating a +1.39% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.64%. On the other hand, the Dow registered a gain of 0.47%, and the technology-centric Nasdaq increased by 0.52%.
The stock of oil company has fallen by 1.49% in the past month, leading the Oils-Energy sector's loss of 1.94% and undershooting the S&P 500's gain of 3%.
Market participants will be closely following the financial results of Chevron in its upcoming release. It is anticipated that the company will report an EPS of $1.54, marking a 25.24% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $53.61 billion, indicating a 2.65% increase compared to the same quarter of the previous year.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 1.3% higher. Chevron is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 19.92. This signifies a premium in comparison to the average Forward P/E of 10.89 for its industry.
It's also important to note that CVX currently trades at a PEG ratio of 8.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.76 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 161, positioning it in the bottom 35% 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.