Chevron (CVX - Free Report) closed the most recent trading day at $115.98, moving +1.87% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.28%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq lost 1.61%.
Prior to today's trading, shares of the oil company had lost 0.86% over the past month. This has was narrower than the Oils-Energy sector's loss of 8.01% and the S&P 500's loss of 6.3% in that time.
Investors will be hoping for strength from CVX as it approaches its next earnings release. On that day, CVX is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 12.92%. Our most recent consensus estimate is calling for quarterly revenue of $42.75 billion, up 1.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.47 per share and revenue of $160.65 billion. These totals would mark changes of -9.45% and -3.42%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for CVX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 4.36% higher. CVX is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that CVX has a Forward P/E ratio of 15.24 right now. This valuation marks a premium compared to its industry's average Forward P/E of 10.98.
We can also see that CVX currently has a PEG ratio of 2.44. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.68 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.