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Chevron (CVX) Stock Drops Despite Market Gains: Important Facts to Note
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Chevron (CVX - Free Report) closed the most recent trading day at $203.78, moving -2.73% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.49%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 2.26%.
Coming into today, shares of the oil company had gained 2.07% in the past month. In that same time, the Oils-Energy sector gained 0.51%, while the S&P 500 gained 0.1%.
Investors will be eagerly watching for the performance of Chevron in its upcoming earnings disclosure. In that report, analysts expect Chevron to post earnings of $4.89 per share. This would mark year-over-year growth of 164.32%. Alongside, our most recent consensus estimate is anticipating revenue of $55.07 billion, indicating a 10.74% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $16.51 per share and a revenue of $228.85 billion, indicating changes of +126.47% and +21.06%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 2.09% upward. Chevron is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Chevron's current valuation metrics, including its Forward P/E ratio of 12.69. This indicates a premium in contrast to its industry's Forward P/E of 8.7.
It is also worth noting that CVX currently has a PEG ratio of 0.61. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.64.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.
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Chevron (CVX) Stock Drops Despite Market Gains: Important Facts to Note
Chevron (CVX - Free Report) closed the most recent trading day at $203.78, moving -2.73% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.49%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 2.26%.
Coming into today, shares of the oil company had gained 2.07% in the past month. In that same time, the Oils-Energy sector gained 0.51%, while the S&P 500 gained 0.1%.
Investors will be eagerly watching for the performance of Chevron in its upcoming earnings disclosure. In that report, analysts expect Chevron to post earnings of $4.89 per share. This would mark year-over-year growth of 164.32%. Alongside, our most recent consensus estimate is anticipating revenue of $55.07 billion, indicating a 10.74% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $16.51 per share and a revenue of $228.85 billion, indicating changes of +126.47% and +21.06%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 2.09% upward. Chevron is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Chevron's current valuation metrics, including its Forward P/E ratio of 12.69. This indicates a premium in contrast to its industry's Forward P/E of 8.7.
It is also worth noting that CVX currently has a PEG ratio of 0.61. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.64.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.