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Chevron (CVX) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Chevron (CVX - Free Report) closed the latest trading day at $142.07, indicating a -1.79% change from the previous session's end. This change lagged the S&P 500's 0.16% loss on the day. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Coming into today, shares of the oil company had gained 1% in the past month. In that same time, the Oils-Energy sector gained 0.93%, while the S&P 500 gained 3.64%.
Market participants will be closely following the financial results of Chevron in its upcoming release. In that report, analysts expect Chevron to post earnings of $3.17 per share. This would mark year-over-year growth of 3.93%. Alongside, our most recent consensus estimate is anticipating revenue of $52.67 billion, indicating a 2.61% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.86 per share and revenue of $203.8 billion. These totals would mark changes of -9.67% and +1.42%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.48% lower. Chevron is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Chevron currently has a Forward P/E ratio of 12.2. This valuation marks a premium compared to its industry's average Forward P/E of 8.
Meanwhile, CVX's PEG ratio is currently 2.44. 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. CVX's industry had an average PEG ratio of 1.55 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Chevron (CVX) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Chevron (CVX - Free Report) closed the latest trading day at $142.07, indicating a -1.79% change from the previous session's end. This change lagged the S&P 500's 0.16% loss on the day. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Coming into today, shares of the oil company had gained 1% in the past month. In that same time, the Oils-Energy sector gained 0.93%, while the S&P 500 gained 3.64%.
Market participants will be closely following the financial results of Chevron in its upcoming release. In that report, analysts expect Chevron to post earnings of $3.17 per share. This would mark year-over-year growth of 3.93%. Alongside, our most recent consensus estimate is anticipating revenue of $52.67 billion, indicating a 2.61% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.86 per share and revenue of $203.8 billion. These totals would mark changes of -9.67% and +1.42%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.48% lower. Chevron is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Chevron currently has a Forward P/E ratio of 12.2. This valuation marks a premium compared to its industry's average Forward P/E of 8.
Meanwhile, CVX's PEG ratio is currently 2.44. 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. CVX's industry had an average PEG ratio of 1.55 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.