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Chevron (CVX) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2 min read

Chevron (CVX) closed the most recent trading day at $85.69, moving +1.58% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.08%. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq lost 0.29%.

Prior to today's trading, shares of the oil company had lost 11.78% over the past month. This has lagged the Oils-Energy sector's gain of 6.72% and the S&P 500's gain of 3.8% in that time.

Wall Street will be looking for positivity from CVX as it approaches its next earnings report date. On that day, CVX is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 91.95%. Our most recent consensus estimate is calling for quarterly revenue of $27.86 billion, down 23.37% from the year-ago period.

CVX's full-year Zacks Consensus Estimates are calling for earnings of -$0.08 per share and revenue of $98.85 billion. These results would represent year-over-year changes of -101.28% and -32.53%, respectively.

It is also important to note the recent changes to analyst estimates for CVX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 29.79% higher within the past month. CVX is currently a Zacks Rank #3 (Hold).

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 7% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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