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Chevron (CVX) Ascends While Market Falls: Some Facts to Note
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Chevron (CVX - Free Report) closed at $213.81 in the latest trading session, marking a +1.91% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 0.64%.
The stock of oil company has risen by 6.68% in the past month, lagging the Oils-Energy sector's gain of 8.39% and overreaching the S&P 500's loss of 0.97%.
Investors will be eagerly watching for the performance of Chevron in its upcoming earnings disclosure. The company is predicted to post an EPS of $4.89, indicating a 164.32% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $55.07 billion, up 10.74% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $16.51 per share and a revenue of $228.85 billion, demonstrating changes of +126.47% and +21.06%, respectively, from the preceding 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 such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 3.45% rise in the Zacks Consensus EPS estimate. Chevron is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Chevron is currently exchanging hands at a Forward P/E ratio of 12.71. This represents a premium compared to its industry average Forward P/E of 8.8.
One should further note that CVX currently holds a PEG ratio of 0.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.82 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 156, finds itself in the bottom 37% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Chevron (CVX) Ascends While Market Falls: Some Facts to Note
Chevron (CVX - Free Report) closed at $213.81 in the latest trading session, marking a +1.91% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 0.64%.
The stock of oil company has risen by 6.68% in the past month, lagging the Oils-Energy sector's gain of 8.39% and overreaching the S&P 500's loss of 0.97%.
Investors will be eagerly watching for the performance of Chevron in its upcoming earnings disclosure. The company is predicted to post an EPS of $4.89, indicating a 164.32% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $55.07 billion, up 10.74% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $16.51 per share and a revenue of $228.85 billion, demonstrating changes of +126.47% and +21.06%, respectively, from the preceding 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 such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 3.45% rise in the Zacks Consensus EPS estimate. Chevron is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Chevron is currently exchanging hands at a Forward P/E ratio of 12.71. This represents a premium compared to its industry average Forward P/E of 8.8.
One should further note that CVX currently holds a PEG ratio of 0.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.82 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 156, finds itself in the bottom 37% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.