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Chevron (CVX) Gains As Market Dips: What You Should Know
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Chevron (CVX - Free Report) closed the most recent trading day at $179.63, moving +1.26% from the previous trading session. This change outpaced the S&P 500's 0.41% loss on the day. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, lost 6.67%.
Prior to today's trading, shares of the oil company had lost 0.54% over the past month. This has was narrower than the Oils-Energy sector's loss of 3.55% and the S&P 500's loss of 4.4% in that time.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. The company is expected to report EPS of $4.28, up 67.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $54.59 billion, up 13.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $19.11 per share and revenue of $241.52 billion. These totals would mark changes of +135.06% and +48.66%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Chevron. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.66% lower. Chevron is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Chevron's current valuation metrics, including its Forward P/E ratio of 9.28. This represents a premium compared to its industry's average Forward P/E of 5.11.
Also, we should mention that CVX has a PEG ratio of 0.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.63 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 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains As Market Dips: What You Should Know
Chevron (CVX - Free Report) closed the most recent trading day at $179.63, moving +1.26% from the previous trading session. This change outpaced the S&P 500's 0.41% loss on the day. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, lost 6.67%.
Prior to today's trading, shares of the oil company had lost 0.54% over the past month. This has was narrower than the Oils-Energy sector's loss of 3.55% and the S&P 500's loss of 4.4% in that time.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. The company is expected to report EPS of $4.28, up 67.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $54.59 billion, up 13.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $19.11 per share and revenue of $241.52 billion. These totals would mark changes of +135.06% and +48.66%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Chevron. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.66% lower. Chevron is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Chevron's current valuation metrics, including its Forward P/E ratio of 9.28. This represents a premium compared to its industry's average Forward P/E of 5.11.
Also, we should mention that CVX has a PEG ratio of 0.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.63 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 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.