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Chevron (CVX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Chevron (CVX - Free Report) closed at $160.44, marking a +1.73% move from the previous day. This change outpaced the S&P 500's 1.24% gain on the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.15%.
Prior to today's trading, shares of the oil company had gained 17.43% over the past month. This has outpaced the Oils-Energy sector's gain of 1.18% and the S&P 500's loss of 2.45% in that time.
Wall Street will be looking for positivity from Chevron as it approaches its next earnings report date. In that report, analysts expect Chevron to post earnings of $3.21 per share. This would mark year-over-year growth of 256.67%. Meanwhile, our latest consensus estimate is calling for revenue of $45.03 billion, up 40.59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.80 per share and revenue of $185.07 billion. These totals would mark changes of +57.44% and +13.92%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 15.52% higher. Chevron is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 12.32. This represents a premium compared to its industry's average Forward P/E of 5.16.
Investors should also note that CVX has a PEG ratio of 0.94 right now. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.69 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Chevron (CVX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Chevron (CVX - Free Report) closed at $160.44, marking a +1.73% move from the previous day. This change outpaced the S&P 500's 1.24% gain on the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.15%.
Prior to today's trading, shares of the oil company had gained 17.43% over the past month. This has outpaced the Oils-Energy sector's gain of 1.18% and the S&P 500's loss of 2.45% in that time.
Wall Street will be looking for positivity from Chevron as it approaches its next earnings report date. In that report, analysts expect Chevron to post earnings of $3.21 per share. This would mark year-over-year growth of 256.67%. Meanwhile, our latest consensus estimate is calling for revenue of $45.03 billion, up 40.59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.80 per share and revenue of $185.07 billion. These totals would mark changes of +57.44% and +13.92%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 15.52% higher. Chevron is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 12.32. This represents a premium compared to its industry's average Forward P/E of 5.16.
Investors should also note that CVX has a PEG ratio of 0.94 right now. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.69 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.