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Chevron (CVX) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, Chevron (CVX - Free Report) closed at $180.40, marking a -3.64% move from the previous day. This change lagged the S&P 500's 1.65% gain on the day. Meanwhile, the Dow gained 0.92%, and the Nasdaq, a tech-heavy index, added 3.07%.
The oil company's shares have seen a decrease of 2.03% over the last month, surpassing the Oils-Energy sector's loss of 2.71% and falling behind the S&P 500's gain of 0.48%.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. It is anticipated that the company will report an EPS of $5.76, marking a 225.42% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $58.23 billion, indicating a 29.91% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.88 per share and revenue of $221.76 billion. These totals would mark changes of +117.83% and +17.31%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Chevron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.28% increase. As of now, Chevron holds a Zacks Rank of #3 (Hold).
Looking at valuation, Chevron is presently trading at a Forward P/E ratio of 11.79. This signifies a premium in comparison to the average Forward P/E of 7.97 for its industry.
We can also see that CVX currently has a PEG ratio of 0.61. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.57 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 19% echelons of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Chevron (CVX) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Chevron (CVX - Free Report) closed at $180.40, marking a -3.64% move from the previous day. This change lagged the S&P 500's 1.65% gain on the day. Meanwhile, the Dow gained 0.92%, and the Nasdaq, a tech-heavy index, added 3.07%.
The oil company's shares have seen a decrease of 2.03% over the last month, surpassing the Oils-Energy sector's loss of 2.71% and falling behind the S&P 500's gain of 0.48%.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. It is anticipated that the company will report an EPS of $5.76, marking a 225.42% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $58.23 billion, indicating a 29.91% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.88 per share and revenue of $221.76 billion. These totals would mark changes of +117.83% and +17.31%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Chevron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.28% increase. As of now, Chevron holds a Zacks Rank of #3 (Hold).
Looking at valuation, Chevron is presently trading at a Forward P/E ratio of 11.79. This signifies a premium in comparison to the average Forward P/E of 7.97 for its industry.
We can also see that CVX currently has a PEG ratio of 0.61. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.57 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 19% echelons of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.