Chevron (CVX) Dips More Than Broader Markets: What You Should Know

Chevron (CVX) closed the most recent trading day at $97.32, moving -0.94% from the previous trading session. This change lagged the S&P 500's daily loss of 0.16%.

Prior to today's trading, shares of the oil company had gained 1.59% over the past month. This has lagged the Oils-Energy sector's gain of 3.37% and outpaced the S&P 500's gain of 0.46% in that time.

Investors will be hoping for strength from CVX as it approaches its next earnings release. In that report, analysts expect CVX to post earnings of $2.16 per share. This would mark year-over-year growth of 1863.64%. Our most recent consensus estimate is calling for quarterly revenue of $41.79 billion, up 70.9% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.74 per share and revenue of $146.49 billion. These totals would mark changes of +3470% and +54.7%, respectively, from last year.

Any recent changes to analyst estimates for CVX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.54% higher. CVX is holding a Zacks Rank of #2 (Buy) right now.

Investors should also note CVX's current valuation metrics, including its Forward P/E ratio of 14.58. This represents a premium compared to its industry's average Forward P/E of 8.03.

Meanwhile, CVX's PEG ratio is currently 2.92. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.59 at yesterday's closing price.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 38, putting it in the top 15% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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