In the latest trading session, Chevron (CVX) closed at $125.33, marking a +0.23% move from the previous day. This move lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.71%.
Prior to today's trading, shares of the oil company had gained 0.61% over the past month. This has outpaced the Oils-Energy sector's gain of 0.37% and lagged the S&P 500's gain of 1.93% in that time.
Wall Street will be looking for positivity from CVX as it approaches its next earnings report date. This is expected to be August 2, 2019. On that day, CVX is projected to report earnings of $1.87 per share, which would represent year-over-year growth of 5.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.49 billion, up 0.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.25 per share and revenue of $157.95 billion. These totals would mark changes of -12.12% and -5.04%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CVX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.03% lower. CVX is currently a Zacks Rank #3 (Hold).
Looking at its valuation, CVX is holding a Forward P/E ratio of 17.24. This represents a premium compared to its industry's average Forward P/E of 12.31.
Investors should also note that CVX has a PEG ratio of 2.87 right now. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.88 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.
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