In the latest trading session, Chevron (CVX - Free Report) closed at $124.94, marking a +1.43% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.16%. At the same time, the Dow added 1.27%, and the tech-heavy Nasdaq gained 1.29%.
Heading into today, shares of the oil company had gained 3.01% over the past month, outpacing the Oils-Energy sector's gain of 1.02% and the S&P 500's gain of 1.92% in that time.
Wall Street will be looking for positivity from CVX as it approaches its next earnings report date. On that day, CVX is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 25.79%. Our most recent consensus estimate is calling for quarterly revenue of $36.69 billion, down 2.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.60 per share and revenue of $153.49 billion. These totals would mark changes of -20% and -7.72%, respectively, from last 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 0.75% lower within the past month. CVX is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note CVX's current valuation metrics, including its Forward P/E ratio of 18.67. For comparison, its industry has an average Forward P/E of 11.45, which means CVX is trading at a premium to the group.
Investors should also note that CVX has a PEG ratio of 3.75 right now. 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 1.25 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.