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Chevron (CVX) Gains As Market Dips: What You Should Know

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Zacks Equity Research
·3 min read
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Chevron (CVX) closed the most recent trading day at $103.26, moving +0.29% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.53%.

Prior to today's trading, shares of the oil company had lost 1.11% over the past month. This has was narrower than the Oils-Energy sector's loss of 3.76% and lagged the S&P 500's gain of 5.72% in that time.

CVX will be looking to display strength as it nears its next earnings release, which is expected to be April 30, 2021. On that day, CVX is projected to report earnings of $0.92 per share, which would represent a year-over-year decline of 28.68%. Our most recent consensus estimate is calling for quarterly revenue of $30.9 billion, down 1.91% from the year-ago period.

CVX's full-year Zacks Consensus Estimates are calling for earnings of $5.16 per share and revenue of $127.5 billion. These results would represent year-over-year changes of +2680% and +34.65%, respectively.

Any recent changes to analyst estimates for CVX should also be noted by investors. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 6.73% higher. CVX is currently a Zacks Rank #1 (Strong Buy).

In terms of valuation, CVX is currently trading at a Forward P/E ratio of 19.95. For comparison, its industry has an average Forward P/E of 11.2, which means CVX is trading at a premium to the group.

Also, we should mention that CVX has a PEG ratio of 3.99. 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. CVX's industry had an average PEG ratio of 1.23 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 14, putting it in the top 6% 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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