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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Chevron (CVX - Free Report) closed at $84.56, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily gain of 3.06%. Meanwhile, the Dow gained 2.39%, and the Nasdaq, a tech-heavy index, added 3.95%.
Heading into today, shares of the oil company had gained 21.82% over the past month, outpacing the Oils-Energy sector's gain of 8.8% and the S&P 500's gain of 2.36% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be May 1, 2020. On that day, CVX is projected to report earnings of $0.76 per share, which would represent a year-over-year decline of 45.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.10 billion, down 11.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.24 per share and revenue of $114.88 billion, which would represent changes of -103.83% and -21.59%, respectively, from the prior 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. 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 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 106.63% lower within the past month. CVX currently has a Zacks Rank of #5 (Strong Sell).
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 232, which puts it in the bottom 10% 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.
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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Chevron (CVX - Free Report) closed at $84.56, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily gain of 3.06%. Meanwhile, the Dow gained 2.39%, and the Nasdaq, a tech-heavy index, added 3.95%.
Heading into today, shares of the oil company had gained 21.82% over the past month, outpacing the Oils-Energy sector's gain of 8.8% and the S&P 500's gain of 2.36% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be May 1, 2020. On that day, CVX is projected to report earnings of $0.76 per share, which would represent a year-over-year decline of 45.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.10 billion, down 11.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.24 per share and revenue of $114.88 billion, which would represent changes of -103.83% and -21.59%, respectively, from the prior 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. 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 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 106.63% lower within the past month. CVX currently has a Zacks Rank of #5 (Strong Sell).
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 232, which puts it in the bottom 10% 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.