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Chevron (CVX) Stock Moves -0.54%: What You Should Know
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Chevron (CVX - Free Report) closed at $169.04 in the latest trading session, marking a -0.54% move from the prior day. This change was narrower than the S&P 500's 0.58% loss on the day. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Heading into today, shares of the oil company had gained 2.27% over the past month, outpacing the Oils-Energy sector's loss of 1.82% and the S&P 500's gain of 2% in that time.
Chevron will be looking to display strength as it nears its next earnings release. In that report, analysts expect Chevron to post earnings of $3.34 per share. This would mark a year-over-year decline of 0.6%. Meanwhile, our latest consensus estimate is calling for revenue of $49.39 billion, down 9.16% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.56 per share and revenue of $215.27 billion, which would represent changes of -22.68% and -12.58%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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. Within the past 30 days, our consensus EPS projection has moved 3.7% lower. Chevron currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 11.67. Its industry sports an average Forward P/E of 5.64, so we one might conclude that Chevron is trading at a premium comparatively.
Also, we should mention that CVX has a PEG ratio of 0.82. 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 industry currently had an average PEG ratio of 0.75 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.
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Chevron (CVX) Stock Moves -0.54%: What You Should Know
Chevron (CVX - Free Report) closed at $169.04 in the latest trading session, marking a -0.54% move from the prior day. This change was narrower than the S&P 500's 0.58% loss on the day. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Heading into today, shares of the oil company had gained 2.27% over the past month, outpacing the Oils-Energy sector's loss of 1.82% and the S&P 500's gain of 2% in that time.
Chevron will be looking to display strength as it nears its next earnings release. In that report, analysts expect Chevron to post earnings of $3.34 per share. This would mark a year-over-year decline of 0.6%. Meanwhile, our latest consensus estimate is calling for revenue of $49.39 billion, down 9.16% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.56 per share and revenue of $215.27 billion, which would represent changes of -22.68% and -12.58%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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. Within the past 30 days, our consensus EPS projection has moved 3.7% lower. Chevron currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 11.67. Its industry sports an average Forward P/E of 5.64, so we one might conclude that Chevron is trading at a premium comparatively.
Also, we should mention that CVX has a PEG ratio of 0.82. 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 industry currently had an average PEG ratio of 0.75 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.