Chevron (CVX) closed at $124.23 in the latest trading session, marking a +0.41% move from the prior day. This change outpaced the S&P 500's 0.16% loss on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 0.44%.
Prior to today's trading, shares of the oil company had gained 0.5% over the past month. This has outpaced the Oils-Energy sector's loss of 3.24% and lagged the S&P 500's gain of 4% 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. In that report, analysts expect CVX to post earnings of $1.80 per share. This would mark year-over-year growth of 1.12%. Our most recent consensus estimate is calling for quarterly revenue of $42.49 billion, up 0.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.94 per share and revenue of $157.95 billion, which would represent changes of -15.88% and -5.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for CVX. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.25% lower. CVX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 17.84. Its industry sports an average Forward P/E of 12.05, so we one might conclude that CVX is trading at a premium comparatively.
Investors should also note that CVX has a PEG ratio of 2.97 right now. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.74 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 192, which puts it in the bottom 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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