In the latest trading session, Chevron (CVX - Free Report) closed at $120.14, marking a +0.32% move from the previous day. This change outpaced the S&P 500's 0.06% loss on the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the oil company had lost 3.88% over the past month, lagging the Oils-Energy sector's gain of 2.69% and the S&P 500's gain of 4.3% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be April 26, 2019. On that day, CVX is projected to report earnings of $1.37 per share, which would represent a year-over-year decline of 27.89%. Our most recent consensus estimate is calling for quarterly revenue of $37.34 billion, down 1.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.76 per share and revenue of $159.73 billion, which would represent changes of -18.06% and -3.97%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CVX. Recent revisions tend to reflect the latest near-term business trends. 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, 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. Within the past 30 days, our consensus EPS projection has moved 1.23% higher. CVX is currently a Zacks Rank #3 (Hold).
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 17.71. This valuation marks a premium compared to its industry's average Forward P/E of 11.63.
Meanwhile, CVX's PEG ratio is currently 3.56. 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. CVX's industry had an average PEG ratio of 1.45 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.