- Oops!Something went wrong.Please try again later.
In the latest trading session, Chevron (CVX) closed at $139.58, marking a +1.4% move from the previous day. This move outpaced the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.69%, and the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the oil company had lost 7.23% over the past month, outpacing the Oils-Energy sector's loss of 13.18% and lagging the S&P 500's gain of 2.02% in that time.
Wall Street will be looking for positivity from Chevron as it approaches its next earnings report date. This is expected to be July 29, 2022. The company is expected to report EPS of $4.87, up 184.8% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $55.13 billion, up 46.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.89 per share and revenue of $223.56 billion. These totals would mark changes of +120.05% and +37.6%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Within the past 30 days, our consensus EPS projection has moved 2.23% higher. Chevron is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Chevron has a Forward P/E ratio of 7.7 right now. This represents a premium compared to its industry's average Forward P/E of 4.13.
It is also worth noting that CVX currently has a PEG ratio of 0.59. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Chevron Corporation (CVX) : Free Stock Analysis Report
To read this article on Zacks.com click here.