The most recent trading session ended with Chevron (CVX – Free Report) standing at $165.02, reflecting a +0.16% shift from the previouse trading day’s closing. This change lagged the S&P 500’s 1.77% gain on the day. Meanwhile, the Dow gained 1.42%, and the Nasdaq, a tech-heavy index, added 2.28%.
Shares of the oil company witnessed a gain of 4.99% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.43% and the S&P 500’s loss of 5.73%.
Market participants will be closely following the financial results of Chevron in its upcoming release. The company is predicted to post an EPS of $2.54, indicating a 13.31% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $47.45 billion, indicating a 2.59% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $10.66 per share and a revenue of $197.99 billion, demonstrating changes of +6.07% and -2.37%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Chevron. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 1.18% lower. Chevron presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is currently trading at a Forward P/E ratio of 15.46. This indicates a premium in contrast to its industry’s Forward P/E of 7.99.
We can also see that CVX currently has a PEG ratio of 1.53. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company’s expected earnings growth trajectory. The Oil and Gas – Integrated – International industry had an average PEG ratio of 1.19 as trading concluded yesterday.
The Oil and Gas – Integrated – International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 154, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.
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