Chevron Corporation (CVX - Free Report) was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 24.2% in the past one-month time frame.
The upside was driven by hopes of a U.S. stimulus package to contain the economic damage of the coronavirus pandemic.
The company has seen four negative estimate revisions in the past month, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past month, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Chevron currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the energy sector is New Fortress Energy LLC (NFE - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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