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Chevron (CVX) Rises But Trails Market: What Investors Should Know
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Chevron (CVX - Free Report) closed at $142.97 in the latest trading session, marking a +0.08% move from the prior day. The stock lagged the S&P 500's daily gain of 0.73%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq increased by 0.98%.
Prior to today's trading, shares of the oil company had lost 12.02% over the past month. This has lagged the Oils-Energy sector's loss of 9.2% and the S&P 500's gain of 0.34% in that time.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.53, reflecting a 26.67% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $47.32 billion, up 0.3% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.50 per share and revenue of $198.12 billion, which would represent changes of -20.03% and -1.41%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Chevron. Such recent modifications usually signify the changing landscape of near-term business trends. 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. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% lower. At present, Chevron boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Chevron is at present trading with a Forward P/E ratio of 13.6. This represents a premium compared to its industry's average Forward P/E of 7.65.
Also, we should mention that CVX has a PEG ratio of 2.72. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 2.03 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 30% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Chevron (CVX) Rises But Trails Market: What Investors Should Know
Chevron (CVX - Free Report) closed at $142.97 in the latest trading session, marking a +0.08% move from the prior day. The stock lagged the S&P 500's daily gain of 0.73%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq increased by 0.98%.
Prior to today's trading, shares of the oil company had lost 12.02% over the past month. This has lagged the Oils-Energy sector's loss of 9.2% and the S&P 500's gain of 0.34% in that time.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.53, reflecting a 26.67% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $47.32 billion, up 0.3% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.50 per share and revenue of $198.12 billion, which would represent changes of -20.03% and -1.41%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Chevron. Such recent modifications usually signify the changing landscape of near-term business trends. 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. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% lower. At present, Chevron boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Chevron is at present trading with a Forward P/E ratio of 13.6. This represents a premium compared to its industry's average Forward P/E of 7.65.
Also, we should mention that CVX has a PEG ratio of 2.72. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 2.03 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 30% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.