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In the latest trading session, Chevron (CVX - Free Report) closed at $144.35, marking a +0.03% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.39%. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Shares of the oil company witnessed a gain of 0.95% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.39% and underperforming the S&P 500's gain of 5.28%.
Investors will be eagerly watching for the performance of Chevron in its upcoming earnings disclosure. The company is expected to report EPS of $3.67, down 10.27% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $55.46 billion, showing a 1.8% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.35 per share and revenue of $208.99 billion, which would represent changes of -29.1% and -15.13%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chevron. Recent revisions tend to reflect the latest near-term business trends. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 1.58% lower. Currently, Chevron is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Chevron has a Forward P/E ratio of 10.81 right now. For comparison, its industry has an average Forward P/E of 6.69, which means Chevron is trading at a premium to the group.
It's also important to note that CVX currently trades at a PEG ratio of 0.76. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CVX's industry had an average PEG ratio of 0.82 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Chevron (CVX) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest trading session, Chevron (CVX - Free Report) closed at $144.35, marking a +0.03% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.39%. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Shares of the oil company witnessed a gain of 0.95% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.39% and underperforming the S&P 500's gain of 5.28%.
Investors will be eagerly watching for the performance of Chevron in its upcoming earnings disclosure. The company is expected to report EPS of $3.67, down 10.27% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $55.46 billion, showing a 1.8% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.35 per share and revenue of $208.99 billion, which would represent changes of -29.1% and -15.13%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chevron. Recent revisions tend to reflect the latest near-term business trends. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 1.58% lower. Currently, Chevron is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Chevron has a Forward P/E ratio of 10.81 right now. For comparison, its industry has an average Forward P/E of 6.69, which means Chevron is trading at a premium to the group.
It's also important to note that CVX currently trades at a PEG ratio of 0.76. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CVX's industry had an average PEG ratio of 0.82 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.