Chevron (CVX) Gains As Market Dips: What You Should Know
In the latest trading session, Chevron (CVX) closed at $117.49, marking a +0.17% move from the previous day. This change outpaced the S&P 500's 1.44% loss on the day. Elsewhere, the Dow lost 1.27%, while the tech-heavy Nasdaq lost 2.06%.
Heading into today, shares of the oil company had lost 1.86% over the past month, lagging the Oils-Energy sector's gain of 0.27% and outpacing the S&P 500's loss of 2.61% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2018. In that report, analysts expect CVX to post earnings of $2.06 per share. This would mark year-over-year growth of 100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.79 billion, up 18.19% from the year-ago period.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $8.23 per share and revenue of $168.21 billion. These results would represent year-over-year changes of +122.43% and +18.69%, respectively.
It is also important to note the recent changes to analyst estimates for CVX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 1.41% higher within the past month. CVX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 14.26. For comparison, its industry has an average Forward P/E of 11.34, which means CVX is trading at a premium to the group.
Also, we should mention that CVX has a PEG ratio of 2.04. 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. CVX's industry had an average PEG ratio of 1.14 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 46, putting it in the top 18% 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.
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Chevron Corporation (CVX) : Free Stock Analysis Report
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