In the latest trading session, Chevron (CVX) closed at $121.39, marking a +0.48% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.62%.
Heading into today, shares of the oil company had gained 0.01% over the past month, outpacing the Oils-Energy sector's loss of 2.88% and lagging the S&P 500's gain of 2.08% in that time.
CVX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.04, up 14.61% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.75 billion, up 1.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.94 per share and revenue of $160.65 billion, which would represent changes of -3.76% and -3.42%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.91% higher. CVX is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, CVX is currently trading at a Forward P/E ratio of 15.21. For comparison, its industry has an average Forward P/E of 11.6, which means CVX is trading at a premium to the group.
It is also worth noting that CVX currently has a PEG ratio of 2.43. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CVX's industry had an average PEG ratio of 1.69 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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