Chevron (CVX) closed the most recent trading day at $124.89, moving +0.46% from the previous trading session. This change outpaced the S&P 500's 0.01% loss on the day. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Coming into today, shares of the oil company had gained 5.6% in the past month. In that same time, the Oils-Energy sector gained 7.19%, while the S&P 500 gained 3.23%.
CVX will be looking to display strength as it nears its next earnings release. In that report, analysts expect CVX to post earnings of $1.87 per share. This would mark a year-over-year decline of 11.37%. Our most recent consensus estimate is calling for quarterly revenue of $40.79 billion, down 7.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.76 per share and revenue of $156.62 billion. These totals would mark changes of -18.06% and -5.84%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CVX. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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. The Zacks Consensus EPS estimate has moved 4.09% lower within the past month. CVX is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, CVX currently has a Forward P/E ratio of 18.39. This valuation marks a premium compared to its industry's average Forward P/E of 12.56.
It is also worth noting that CVX currently has a PEG ratio of 3.06. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.69 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 222, which puts it in the bottom 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.
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