Chevron (CVX - Free Report) closed at $118.85 in the latest trading session, marking a +0.6% move from the prior day. This change outpaced the S&P 500's 0.22% loss on the day. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Prior to today's trading, shares of the oil company had gained 5.81% over the past month. This has outpaced the Oils-Energy sector's loss of 3.31% and the S&P 500's gain of 3.57% in that time.
Investors will be hoping for strength from CVX as it approaches its next earnings release, which is expected to be February 1, 2019. In that report, analysts expect CVX to post earnings of $2.43 per share. This would mark year-over-year growth of 232.88%. Our most recent consensus estimate is calling for quarterly revenue of $44.78 billion, up 19.04% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.21 per share and revenue of $168.77 billion, which would represent changes of +121.89% and +19.08%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CVX. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.67% higher. CVX is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, CVX is holding a Forward P/E ratio of 14.38. For comparison, its industry has an average Forward P/E of 10.26, which means CVX is trading at a premium to the group.
Also, we should mention that CVX has a PEG ratio of 2.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.09 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 56, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.