Chevron (CVX - Free Report) closed at $117.77 in the latest trading session, marking a -0.56% move from the prior day. This change lagged the S&P 500's 1.42% gain on the day. At the same time, the Dow added 1.15%, and the tech-heavy Nasdaq gained 2.29%.
Coming into today, shares of the oil company had gained 1.83% in the past month. In that same time, the Oils-Energy sector gained 0.92%, while the S&P 500 lost 5.36%.
Wall Street will be looking for positivity from CVX as it approaches its next earnings report date. This is expected to be November 2, 2018. In that report, analysts expect CVX to post earnings of $2.27 per share. This would mark year-over-year growth of 120.39%. Our most recent consensus estimate is calling for quarterly revenue of $43.55 billion, up 20.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.29 per share and revenue of $168.28 billion, which would represent changes of +124.05% and +18.74%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for CVX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate has moved 2.24% higher within the past month. CVX is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note CVX's current valuation metrics, including its Forward P/E ratio of 14.28. This valuation marks a premium compared to its industry's average Forward P/E of 11.46.
We can also see that CVX currently has a PEG ratio of 2.04. 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 1.33 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.