We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Chevron (CVX) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
Chevron (CVX - Free Report) closed the most recent trading day at $152.33, moving +1.91% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.18%.
Shares of the oil company witnessed a gain of 4.63% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.83% and the S&P 500's gain of 3.4%.
Investors will be eagerly watching for the performance of Chevron in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.60, signifying a 11.98% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $54.87 billion, indicating a 2.84% downward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 1.95% rise in the Zacks Consensus EPS estimate. Chevron is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is currently trading at a Forward P/E ratio of 9.78. This signifies a premium in comparison to the average Forward P/E of 6.44 for its industry.
Also, we should mention that CVX has a PEG ratio of 0.69. 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 industry currently had an average PEG ratio of 0.84 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 64, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Chevron (CVX) Ascends While Market Falls: Some Facts to Note
Chevron (CVX - Free Report) closed the most recent trading day at $152.33, moving +1.91% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.18%.
Shares of the oil company witnessed a gain of 4.63% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.83% and the S&P 500's gain of 3.4%.
Investors will be eagerly watching for the performance of Chevron in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.60, signifying a 11.98% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $54.87 billion, indicating a 2.84% downward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 1.95% rise in the Zacks Consensus EPS estimate. Chevron is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is currently trading at a Forward P/E ratio of 9.78. This signifies a premium in comparison to the average Forward P/E of 6.44 for its industry.
Also, we should mention that CVX has a PEG ratio of 0.69. 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 industry currently had an average PEG ratio of 0.84 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 64, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.