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Chevron (CVX) Gains As Market Dips: What You Should Know
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Chevron (CVX - Free Report) closed at $166.81 in the latest trading session, marking a +1.86% move from the prior day. This change outpaced the S&P 500's 0.57% loss on the day. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.
Coming into today, shares of the oil company had lost 0.16% in the past month. In that same time, the Oils-Energy sector gained 1.36%, while the S&P 500 gained 0.64%.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. In that report, analysts expect Chevron to post earnings of $3.27 per share. This would mark a year-over-year decline of 41.19%. Meanwhile, our latest consensus estimate is calling for revenue of $52.56 billion, down 21.14% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.19 per share and revenue of $203.28 billion, which would represent changes of -29.95% and -17.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Chevron should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.37% lower. Chevron is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Chevron currently has a Forward P/E ratio of 12.41. This represents a premium compared to its industry's average Forward P/E of 7.09.
It is also worth noting that CVX currently has a PEG ratio of 0.87. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.84 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 18% 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) Gains As Market Dips: What You Should Know
Chevron (CVX - Free Report) closed at $166.81 in the latest trading session, marking a +1.86% move from the prior day. This change outpaced the S&P 500's 0.57% loss on the day. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.
Coming into today, shares of the oil company had lost 0.16% in the past month. In that same time, the Oils-Energy sector gained 1.36%, while the S&P 500 gained 0.64%.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. In that report, analysts expect Chevron to post earnings of $3.27 per share. This would mark a year-over-year decline of 41.19%. Meanwhile, our latest consensus estimate is calling for revenue of $52.56 billion, down 21.14% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.19 per share and revenue of $203.28 billion, which would represent changes of -29.95% and -17.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Chevron should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.37% lower. Chevron is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Chevron currently has a Forward P/E ratio of 12.41. This represents a premium compared to its industry's average Forward P/E of 7.09.
It is also worth noting that CVX currently has a PEG ratio of 0.87. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.84 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 18% 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.