Chevron (CVX) closed at $97.19 in the latest trading session, marking a -1.36% move from the prior day. This change was narrower than the S&P 500's daily loss of 3.39%. Elsewhere, the Dow lost 3.58%, while the tech-heavy Nasdaq lost 3.1%.
Heading into today, shares of the oil company had lost 10.66% over the past month, lagging the Oils-Energy sector's loss of 10.55% and the S&P 500's loss of 4.8% in that time.
Investors will be hoping for strength from CVX as it approaches its next earnings release. The company is expected to report EPS of $1.53, up 10.07% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $36.83 billion, up 4.64% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.48 per share and revenue of $147.71 billion, which would represent changes of +3.35% and +0.82%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 6.6% lower within the past month. CVX is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, CVX currently has a Forward P/E ratio of 15.22. This valuation marks a premium compared to its industry's average Forward P/E of 11.27.
It is also worth noting that CVX currently has a PEG ratio of 2.54. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.82 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 201, which puts it in the bottom 22% 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.
Chevron Corporation (NYSE:CVX
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