Chevron (CVX) closed the most recent trading day at $91.04, moving -0.38% from the previous trading session. This change lagged the S&P 500's 0.58% gain on the day. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.24%.
Prior to today's trading, shares of the oil company had lost 0.05% over the past month. This has lagged the Oils-Energy sector's gain of 1.16% and the S&P 500's gain of 5.34% in that time.
CVX will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2020. In that report, analysts expect CVX to post earnings of -$0.91 per share. This would mark a year-over-year decline of 140.09%. Our most recent consensus estimate is calling for quarterly revenue of $19.60 billion, down 49.56% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.52 per share and revenue of $110.93 billion, which would represent changes of -91.71% and -24.29%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CVX. Recent revisions tend to reflect the latest near-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. 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.
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 128.07% higher within the past month. CVX is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, CVX is holding a Forward P/E ratio of 175.75. This represents a premium compared to its industry's average Forward P/E of 30.56.
Meanwhile, CVX's PEG ratio is currently 35.15. 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 10.62 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 37, which puts it in the top 15% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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