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Chevron (CVX) Ascends But Remains Behind Market: Some Facts to Note
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Chevron (CVX - Free Report) closed the most recent trading day at $153.19, moving +0.41% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.77%. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 0.95%.
The oil company's shares have seen a decrease of 6.21% over the last month, surpassing the Oils-Energy sector's loss of 7.24% and falling behind the S&P 500's gain of 3.71%.
The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. On that day, Chevron is projected to report earnings of $3.51 per share, which would represent year-over-year growth of 13.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $52.13 billion, up 6.62% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.45 per share and a revenue of $206.42 billion, indicating changes of +2.44% and +2.72%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.89% lower. Chevron currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Chevron is currently being traded at a Forward P/E ratio of 11.35. Its industry sports an average Forward P/E of 6.99, so one might conclude that Chevron is trading at a premium comparatively.
Investors should also note that CVX has a PEG ratio of 2.27 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 1.77 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 147, placing it within the bottom 42% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Chevron (CVX) Ascends But Remains Behind Market: Some Facts to Note
Chevron (CVX - Free Report) closed the most recent trading day at $153.19, moving +0.41% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.77%. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 0.95%.
The oil company's shares have seen a decrease of 6.21% over the last month, surpassing the Oils-Energy sector's loss of 7.24% and falling behind the S&P 500's gain of 3.71%.
The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. On that day, Chevron is projected to report earnings of $3.51 per share, which would represent year-over-year growth of 13.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $52.13 billion, up 6.62% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.45 per share and a revenue of $206.42 billion, indicating changes of +2.44% and +2.72%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.89% lower. Chevron currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Chevron is currently being traded at a Forward P/E ratio of 11.35. Its industry sports an average Forward P/E of 6.99, so one might conclude that Chevron is trading at a premium comparatively.
Investors should also note that CVX has a PEG ratio of 2.27 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 1.77 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 147, placing it within the bottom 42% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.