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Chevron (CVX) Ascends While Market Falls: Some Facts to Note
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Chevron (CVX - Free Report) closed the most recent trading day at $149.70, moving +1.65% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.93%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 1.53%.
Heading into today, shares of the oil company had lost 0.46% over the past month, outpacing the Oils-Energy sector's loss of 2.51% and lagging the S&P 500's gain of 2.17% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Chevron in its upcoming earnings disclosure. In that report, analysts expect Chevron to post earnings of $2.79 per share. This would mark a year-over-year decline of 8.52%. Meanwhile, our latest consensus estimate is calling for revenue of $51.61 billion, down 4.57% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.02 per share and a revenue of $201.26 billion, representing changes of -16.07% and +0.16%, respectively, from the prior 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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, 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 shifted 7.05% downward. Currently, Chevron is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 13.36. This signifies a premium in comparison to the average Forward P/E of 7.74 for its industry.
One should further note that CVX currently holds a PEG ratio of 2.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.52 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 225, placing it within the bottom 11% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Chevron (CVX) Ascends While Market Falls: Some Facts to Note
Chevron (CVX - Free Report) closed the most recent trading day at $149.70, moving +1.65% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.93%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 1.53%.
Heading into today, shares of the oil company had lost 0.46% over the past month, outpacing the Oils-Energy sector's loss of 2.51% and lagging the S&P 500's gain of 2.17% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Chevron in its upcoming earnings disclosure. In that report, analysts expect Chevron to post earnings of $2.79 per share. This would mark a year-over-year decline of 8.52%. Meanwhile, our latest consensus estimate is calling for revenue of $51.61 billion, down 4.57% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.02 per share and a revenue of $201.26 billion, representing changes of -16.07% and +0.16%, respectively, from the prior 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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, 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 shifted 7.05% downward. Currently, Chevron is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 13.36. This signifies a premium in comparison to the average Forward P/E of 7.74 for its industry.
One should further note that CVX currently holds a PEG ratio of 2.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.52 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 225, placing it within the bottom 11% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.