Chevron (CVX) Increases Despite Market Slip: Here's What You Need to Know

Chevron (CVX) closed the most recent trading day at $211.15, moving +1.62% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.67%. Meanwhile, the Dow experienced a drop of 1.73%, and the technology-dominated Nasdaq saw a decrease of 2.15%.

The stock of oil company has risen by 12.83% in the past month, leading the Oils-Energy sector's gain of 10.72% and the S&P 500's loss of 6.15%.

The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company is expected to report EPS of $1.77, down 18.81% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $46.94 billion, indicating a 1.42% decline compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates project earnings of $8.05 per share and a revenue of $193.17 billion, demonstrating changes of +10.43% and +2.19%, respectively, from the preceding year.

Investors should also pay attention to any latest changes in analyst estimates for Chevron. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 20.88% higher. As of now, Chevron holds a Zacks Rank of #3 (Hold).

In the context of valuation, Chevron is at present trading with a Forward P/E ratio of 25.82. This indicates a premium in contrast to its industry's Forward P/E of 11.22.

It is also worth noting that CVX currently has a PEG ratio of 1.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.17.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 40, placing it within the top 17% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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