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Chevron (CVX) Gains But Lags Market: What You Should Know
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Chevron (CVX - Free Report) closed the most recent trading day at $70.68, moving +1.41% from the previous trading session. The stock lagged the S&P 500's daily gain of 6%. Meanwhile, the Dow gained 5.2%, and the Nasdaq, a tech-heavy index, added 6.23%.
Coming into today, shares of the oil company had lost 36.68% in the past month. In that same time, the Oils-Energy sector lost 47.86%, while the S&P 500 lost 29.18%.
CVX will be looking to display strength as it nears its next earnings release. In that report, analysts expect CVX to post earnings of $1.27 per share. This would mark a year-over-year decline of 8.63%. Meanwhile, our latest consensus estimate is calling for revenue of $34.14 billion, down 3.01% from the prior-year quarter.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $3.97 per share and revenue of $129.54 billion. These results would represent year-over-year changes of -36.68% and -11.59%, respectively.
Any recent changes to analyst estimates for CVX should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 43.85% lower. 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 17.56. For comparison, its industry has an average Forward P/E of 8.65, which means CVX is trading at a premium to the group.
Investors should also note that CVX has a PEG ratio of 3.51 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 2.39 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 244, putting it in the bottom 5% 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.
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Chevron (CVX) Gains But Lags Market: What You Should Know
Chevron (CVX - Free Report) closed the most recent trading day at $70.68, moving +1.41% from the previous trading session. The stock lagged the S&P 500's daily gain of 6%. Meanwhile, the Dow gained 5.2%, and the Nasdaq, a tech-heavy index, added 6.23%.
Coming into today, shares of the oil company had lost 36.68% in the past month. In that same time, the Oils-Energy sector lost 47.86%, while the S&P 500 lost 29.18%.
CVX will be looking to display strength as it nears its next earnings release. In that report, analysts expect CVX to post earnings of $1.27 per share. This would mark a year-over-year decline of 8.63%. Meanwhile, our latest consensus estimate is calling for revenue of $34.14 billion, down 3.01% from the prior-year quarter.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $3.97 per share and revenue of $129.54 billion. These results would represent year-over-year changes of -36.68% and -11.59%, respectively.
Any recent changes to analyst estimates for CVX should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 43.85% lower. 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 17.56. For comparison, its industry has an average Forward P/E of 8.65, which means CVX is trading at a premium to the group.
Investors should also note that CVX has a PEG ratio of 3.51 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 2.39 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 244, putting it in the bottom 5% 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.