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Chevron (CVX) Advances While Market Declines: Some Information for Investors
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Chevron (CVX - Free Report) closed at $155.07 in the latest trading session, marking a +0.64% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 2.32%. Meanwhile, the Dow lost 1.25%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Prior to today's trading, shares of the oil company had lost 2.76% over the past month. This has was narrower than the Oils-Energy sector's loss of 8.99% and lagged the S&P 500's gain of 1.79% in that time.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company is scheduled to release its earnings on August 2, 2024. It is anticipated that the company will report an EPS of $2.98, marking a 3.25% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $50.78 billion, indicating a 3.86% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $12.60 per share and a revenue of $202.87 billion, demonstrating changes of -4.04% and +0.96%, respectively, from the preceding year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.17% lower within the past month. As of now, Chevron holds a Zacks Rank of #3 (Hold).
Digging into valuation, Chevron currently has a Forward P/E ratio of 12.23. This represents a premium compared to its industry's average Forward P/E of 7.72.
Investors should also note that CVX has a PEG ratio of 2.45 right now. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.62 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 197, this industry ranks in the bottom 22% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Chevron (CVX) Advances While Market Declines: Some Information for Investors
Chevron (CVX - Free Report) closed at $155.07 in the latest trading session, marking a +0.64% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 2.32%. Meanwhile, the Dow lost 1.25%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Prior to today's trading, shares of the oil company had lost 2.76% over the past month. This has was narrower than the Oils-Energy sector's loss of 8.99% and lagged the S&P 500's gain of 1.79% in that time.
The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. The company is scheduled to release its earnings on August 2, 2024. It is anticipated that the company will report an EPS of $2.98, marking a 3.25% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $50.78 billion, indicating a 3.86% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $12.60 per share and a revenue of $202.87 billion, demonstrating changes of -4.04% and +0.96%, respectively, from the preceding year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.17% lower within the past month. As of now, Chevron holds a Zacks Rank of #3 (Hold).
Digging into valuation, Chevron currently has a Forward P/E ratio of 12.23. This represents a premium compared to its industry's average Forward P/E of 7.72.
Investors should also note that CVX has a PEG ratio of 2.45 right now. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.62 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 197, this industry ranks in the bottom 22% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.