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Chevron (CVX) Gains But Lags Market: What You Should Know
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Chevron (CVX - Free Report) closed the most recent trading day at $86.98, moving +0.21% from the previous trading session. This change lagged the S&P 500's 1.39% gain on the day. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 1.65%.
Heading into today, shares of the oil company had gained 13.64% over the past month, lagging the Oils-Energy sector's gain of 35.29% and the S&P 500's gain of 25.31% in that time.
Investors will be hoping for strength from CVX as it approaches its next earnings release, which is expected to be May 1, 2020. On that day, CVX is projected to report earnings of $0.64 per share, which would represent a year-over-year decline of 53.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.88 billion, down 15.12% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of -$0.90 per share and revenue of $108.83 billion. These results would represent year-over-year changes of -114.35% and -25.72%, respectively.
Any recent changes to analyst estimates for CVX should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 260.2% lower within the past month. CVX currently has a Zacks Rank of #5 (Strong Sell).
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 20% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Chevron (CVX) Gains But Lags Market: What You Should Know
Chevron (CVX - Free Report) closed the most recent trading day at $86.98, moving +0.21% from the previous trading session. This change lagged the S&P 500's 1.39% gain on the day. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 1.65%.
Heading into today, shares of the oil company had gained 13.64% over the past month, lagging the Oils-Energy sector's gain of 35.29% and the S&P 500's gain of 25.31% in that time.
Investors will be hoping for strength from CVX as it approaches its next earnings release, which is expected to be May 1, 2020. On that day, CVX is projected to report earnings of $0.64 per share, which would represent a year-over-year decline of 53.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.88 billion, down 15.12% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of -$0.90 per share and revenue of $108.83 billion. These results would represent year-over-year changes of -114.35% and -25.72%, respectively.
Any recent changes to analyst estimates for CVX should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 260.2% lower within the past month. CVX currently has a Zacks Rank of #5 (Strong Sell).
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 20% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.