Chevron (CVX - Free Report) closed at $123.62 in the latest trading session, marking a +1.64% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.47%. Meanwhile, the Dow gained 0.79%, and the Nasdaq, a tech-heavy index, added 2.02%.
Coming into today, shares of the oil company had gained 2.87% in the past month. In that same time, the Oils-Energy sector gained 0.93%, while the S&P 500 gained 1.5%.
CVX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.42, down 25.26% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.32 billion, up 1.48% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $6.63 per share and revenue of $164.73 billion. These results would represent year-over-year changes of -19.64% and -0.97%, respectively.
Any recent changes to analyst estimates for CVX should also be noted by investors. 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. 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, 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 0.34% higher within the past month. CVX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 18.35. For comparison, its industry has an average Forward P/E of 11.74, which means CVX is trading at a premium to the group.
It is also worth noting that CVX currently has a PEG ratio of 3.68. 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 1.19 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 144, putting it in the bottom 44% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.