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Chevron (CVX) Rises As Market Takes a Dip: Key Facts
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In the latest trading session, Chevron (CVX - Free Report) closed at $217.59, marking a +2.55% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.78%.
The oil company's stock has climbed by 4.67% in the past month, exceeding the Oils-Energy sector's gain of 2% and the S&P 500's loss of 1.99%.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company is forecasted to report an EPS of $4.89, showcasing a 164.32% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $55.07 billion, reflecting a 10.74% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $16.51 per share and a revenue of $228.85 billion, signifying shifts of +126.47% and +21.06%, respectively, from the last year.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 4.06% higher. Chevron presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 12.85. This indicates a premium in contrast to its industry's Forward P/E of 8.9.
Meanwhile, CVX's PEG ratio is currently 0.62. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.68.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 29% 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) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Chevron (CVX - Free Report) closed at $217.59, marking a +2.55% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.78%.
The oil company's stock has climbed by 4.67% in the past month, exceeding the Oils-Energy sector's gain of 2% and the S&P 500's loss of 1.99%.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company is forecasted to report an EPS of $4.89, showcasing a 164.32% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $55.07 billion, reflecting a 10.74% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $16.51 per share and a revenue of $228.85 billion, signifying shifts of +126.47% and +21.06%, respectively, from the last year.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 4.06% higher. Chevron presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 12.85. This indicates a premium in contrast to its industry's Forward P/E of 8.9.
Meanwhile, CVX's PEG ratio is currently 0.62. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.68.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 29% 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.