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Chevron (CVX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Chevron (CVX - Free Report) closed at $138.23, marking a -1.48% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.84%.
The oil company's shares have seen a decrease of 3.25% over the last month, not keeping up with the Oils-Energy sector's loss of 2.65% and the S&P 500's gain of 2.54%.
The upcoming earnings release of Chevron will be of great interest to investors. In that report, analysts expect Chevron to post earnings of $3.17 per share. This would mark year-over-year growth of 3.93%. Simultaneously, our latest consensus estimate expects the revenue to be $52.67 billion, showing a 2.61% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.86 per share and a revenue of $203.8 billion, indicating changes of -9.67% and +1.42%, respectively, from the former 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. 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 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.91% lower. As of now, Chevron holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Chevron is currently exchanging hands at a Forward P/E ratio of 11.84. This valuation marks a premium compared to its industry's average Forward P/E of 7.84.
It is also worth noting that CVX currently has a PEG ratio of 2.37. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.55.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 210, this industry ranks in the bottom 17% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Chevron (CVX - Free Report) closed at $138.23, marking a -1.48% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.84%.
The oil company's shares have seen a decrease of 3.25% over the last month, not keeping up with the Oils-Energy sector's loss of 2.65% and the S&P 500's gain of 2.54%.
The upcoming earnings release of Chevron will be of great interest to investors. In that report, analysts expect Chevron to post earnings of $3.17 per share. This would mark year-over-year growth of 3.93%. Simultaneously, our latest consensus estimate expects the revenue to be $52.67 billion, showing a 2.61% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.86 per share and a revenue of $203.8 billion, indicating changes of -9.67% and +1.42%, respectively, from the former 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. 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 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.91% lower. As of now, Chevron holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Chevron is currently exchanging hands at a Forward P/E ratio of 11.84. This valuation marks a premium compared to its industry's average Forward P/E of 7.84.
It is also worth noting that CVX currently has a PEG ratio of 2.37. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.55.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 210, this industry ranks in the bottom 17% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.