Chevron (CVX - Free Report) closed at $108.57 in the latest trading session, marking a -1.92% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.48%. Elsewhere, the Dow lost 2.83%, while the tech-heavy Nasdaq lost 3.04%.
Prior to today's trading, shares of the oil company had lost 5.59% over the past month. This has was narrower than the Oils-Energy sector's loss of 8.19% and the S&P 500's loss of 8.82% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be February 1, 2019. In that report, analysts expect CVX to post earnings of $2.06 per share. This would mark year-over-year growth of 182.19%. Meanwhile, our latest consensus estimate is calling for revenue of $41.68 billion, up 10.8% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for CVX. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.79% lower. CVX currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 13.81. This valuation marks a premium compared to its industry's average Forward P/E of 9.6.
Also, we should mention that CVX has a PEG ratio of 1.97. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 1.06 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 248, putting it in the bottom 3% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.