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Chevron Corporation (CVX) Hits Fresh High: Is There Still Room to Run?
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A strong stock as of late has been Chevron (CVX - Free Report) . Shares have been marching higher, with the stock up 5% over the past month. The stock hit a new 52-week high of $222.55 in the previous session. Chevron has gained 45.7% since the start of the year compared to the 40.4% gain for the Zacks Oils-Energy sector and the 47.9% return for the Zacks Oil and Gas - Integrated - International industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on July 31, 2026, Chevron reported EPS of $6.06 versus consensus estimate of $5.8.
For the current fiscal year, Chevron is expected to post earnings of $17.53 per share on $239.3 in revenues. This represents a 140.47% change in EPS on a 26.59% change in revenues. For the next fiscal year, the company is expected to earn $15.5 per share on $236.24 in revenues. This represents a year-over-year change of -11.6% and -1.28%, respectively.
Valuation Metrics
Though Chevron has recently hit a 52-week high, what is next for Chevron? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.
Chevron has a Value Score of B. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 12.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 8.2X. On a trailing cash flow basis, the stock currently trades at 13.3X versus its peer group's average of 6.7X. Additionally, the stock has a PEG ratio of 0.61. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to consider the stock's Zacks Rank, as this is even more important than the company's VGM Score. Fortunately, Chevron currently has a Zacks Rank of #1 (Strong Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Chevron passes the test. Thus, it seems as though Chevron shares could still be poised for more gains ahead.
How Does CVX Stack Up to the Competition?
Shares of CVX have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is OMV AG (OMVKY - Free Report) . OMVKY has a Zacks Rank of #1 (Strong Buy) and a Value Score of A, a Growth Score of C, and a Momentum Score of A.
Earnings were strong last quarter. OMV AG beat our consensus estimate by 347.30%, and for the current fiscal year, OMVKY is expected to post earnings of $2.55 per share on revenue of $39.7 billion.
Shares of OMV AG have gained 0.6% over the past month, and currently trade at a forward P/E of 8.16X and a P/CF of 5.41X.
The Oil and Gas - Integrated - International industry is in the top 9% of all the industries we have in our universe, so it looks like there are some nice tailwinds for CVX and OMVKY, even beyond their own solid fundamental situation.
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Chevron Corporation (CVX) Hits Fresh High: Is There Still Room to Run?
A strong stock as of late has been Chevron (CVX - Free Report) . Shares have been marching higher, with the stock up 5% over the past month. The stock hit a new 52-week high of $222.55 in the previous session. Chevron has gained 45.7% since the start of the year compared to the 40.4% gain for the Zacks Oils-Energy sector and the 47.9% return for the Zacks Oil and Gas - Integrated - International industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on July 31, 2026, Chevron reported EPS of $6.06 versus consensus estimate of $5.8.
For the current fiscal year, Chevron is expected to post earnings of $17.53 per share on $239.3 in revenues. This represents a 140.47% change in EPS on a 26.59% change in revenues. For the next fiscal year, the company is expected to earn $15.5 per share on $236.24 in revenues. This represents a year-over-year change of -11.6% and -1.28%, respectively.
Valuation Metrics
Though Chevron has recently hit a 52-week high, what is next for Chevron? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.
Chevron has a Value Score of B. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 12.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 8.2X. On a trailing cash flow basis, the stock currently trades at 13.3X versus its peer group's average of 6.7X. Additionally, the stock has a PEG ratio of 0.61. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to consider the stock's Zacks Rank, as this is even more important than the company's VGM Score. Fortunately, Chevron currently has a Zacks Rank of #1 (Strong Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Chevron passes the test. Thus, it seems as though Chevron shares could still be poised for more gains ahead.
How Does CVX Stack Up to the Competition?
Shares of CVX have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is OMV AG (OMVKY - Free Report) . OMVKY has a Zacks Rank of #1 (Strong Buy) and a Value Score of A, a Growth Score of C, and a Momentum Score of A.
Earnings were strong last quarter. OMV AG beat our consensus estimate by 347.30%, and for the current fiscal year, OMVKY is expected to post earnings of $2.55 per share on revenue of $39.7 billion.
Shares of OMV AG have gained 0.6% over the past month, and currently trade at a forward P/E of 8.16X and a P/CF of 5.41X.
The Oil and Gas - Integrated - International industry is in the top 9% of all the industries we have in our universe, so it looks like there are some nice tailwinds for CVX and OMVKY, even beyond their own solid fundamental situation.