Chevron (CVX) closed at $118.56 in…

Chevron (CVX Free Report) closed at $118.56 in the latest trading session, marking a -0.19% move from the prior day. This move lagged the S&P 500’s daily loss of 0.1%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq lost 0.1%.

Prior to today’s trading, shares of the oil company had gained 3.43% over the past month. This has outpaced the Oils-Energy sector’s gain of 2.89% and lagged the S&P 500’s gain of 4.4% in that time.

Wall Street will be looking for positivity from Chevron as it approaches its next earnings report date. On that day, Chevron is projected to report earnings of $2.99 per share, which would represent year-over-year growth of 30000%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $43.6 billion, up 72.69% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $8.42 per share and revenue of $155.81 billion, which would represent changes of +4310% and +64.54%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Chevron. These revisions help to show the ever-changing nature of 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.79% higher. Chevron currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Chevron has a Forward P/E ratio of 14.11 right now. This represents a premium compared to its industry’s average Forward P/E of 8.

Meanwhile, CVX’s PEG ratio is currently 2.52. 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 industry currently had an average PEG ratio of 0.71 as of yesterday’s close.

The Oil and Gas – Integrated – International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% 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.

Source

Hippo Sighting Report

Help us out, we really appreciate it.

Help contribute to our research, and let us know if you have seen similar situations that we may have missed. Our team will review the details you provide and add to our main list once we verify the information.

stay informed

Subscribe and get the updated Hippo List.

Get notified when we release our updated lists by email.

Make a Donation

Thank you for subscribing!

We will send you an email to confirm your details.  Welcome aboard!

Thanks for sending us your report.

We will review your information, and publish in on our list once we validate the details.