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Chevron (CVX) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Chevron (CVX - Free Report) closed at $158.46, marking a -0.53% move from the previous day. This change lagged the S&P 500's daily gain of 0.09%. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq increased by 0.16%.
The the stock of oil company has risen by 0.99% in the past month, leading the Oils-Energy sector's loss of 0.69% and undershooting the S&P 500's gain of 2.83%.
The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company is forecasted to report an EPS of $3.34, showcasing an 8.44% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $52.13 billion, indicating a 6.62% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $13.15 per share and a revenue of $206.42 billion, demonstrating changes of +0.15% and +2.72%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Chevron. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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, the Zacks Consensus EPS estimate has moved 1.03% lower. Right now, Chevron possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Chevron is presently trading at a Forward P/E ratio of 12.11. This valuation marks a premium compared to its industry's average Forward P/E of 7.14.
We can additionally observe that CVX currently boasts a PEG ratio of 2.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. CVX's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 39% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Chevron (CVX) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Chevron (CVX - Free Report) closed at $158.46, marking a -0.53% move from the previous day. This change lagged the S&P 500's daily gain of 0.09%. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq increased by 0.16%.
The the stock of oil company has risen by 0.99% in the past month, leading the Oils-Energy sector's loss of 0.69% and undershooting the S&P 500's gain of 2.83%.
The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company is forecasted to report an EPS of $3.34, showcasing an 8.44% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $52.13 billion, indicating a 6.62% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $13.15 per share and a revenue of $206.42 billion, demonstrating changes of +0.15% and +2.72%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Chevron. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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, the Zacks Consensus EPS estimate has moved 1.03% lower. Right now, Chevron possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Chevron is presently trading at a Forward P/E ratio of 12.11. This valuation marks a premium compared to its industry's average Forward P/E of 7.14.
We can additionally observe that CVX currently boasts a PEG ratio of 2.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. CVX's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 39% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.