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Chevron (CVX) Stock Moves -0.4%: What You Should Know
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The most recent trading session ended with Chevron (CVX - Free Report) standing at $143.12, reflecting a -0.4% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.56% for the day. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Shares of the oil company witnessed a loss of 5.24% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 2.83% and the S&P 500's gain of 1.2%.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company is scheduled to release its earnings on February 2, 2024. On that day, Chevron is projected to report earnings of $3.38 per share, which would represent a year-over-year decline of 17.36%. Meanwhile, our latest consensus estimate is calling for revenue of $53.87 billion, down 4.61% from the prior-year quarter.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been an 8.9% fall in the Zacks Consensus EPS estimate. At present, Chevron boasts a Zacks Rank of #4 (Sell).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 10.32. This expresses a premium compared to the average Forward P/E of 6.67 of its industry.
Also, we should mention that CVX has a PEG ratio of 0.72. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CVX's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Chevron (CVX) Stock Moves -0.4%: What You Should Know
The most recent trading session ended with Chevron (CVX - Free Report) standing at $143.12, reflecting a -0.4% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.56% for the day. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Shares of the oil company witnessed a loss of 5.24% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 2.83% and the S&P 500's gain of 1.2%.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company is scheduled to release its earnings on February 2, 2024. On that day, Chevron is projected to report earnings of $3.38 per share, which would represent a year-over-year decline of 17.36%. Meanwhile, our latest consensus estimate is calling for revenue of $53.87 billion, down 4.61% from the prior-year quarter.
Any recent changes to analyst estimates for Chevron should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been an 8.9% fall in the Zacks Consensus EPS estimate. At present, Chevron boasts a Zacks Rank of #4 (Sell).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 10.32. This expresses a premium compared to the average Forward P/E of 6.67 of its industry.
Also, we should mention that CVX has a PEG ratio of 0.72. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CVX's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.