Chevron (CVX) Advances While Market Declines: Some Information for Investors

In the latest close session, Chevron (CVX) was up +1.42% at $159.54. This move outpaced the S&P 500's daily loss of 0.13%. Meanwhile, the Dow experienced a drop of 0.27%, and the technology-dominated Nasdaq saw a decrease of 0.07%. Shares of the oil company have appreciated by 1.28% over the course of the past month, underperforming the Oils-Energy sector's gain of 2.71%, and the S&P 500's gain of 2.71%.Analysts and investors alike will be keeping a close eye on the performance of Chevron in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.13, showcasing a 15.14% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $52.06 billion, showing a 2.74% escalation compared to the year-ago quarter. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.83 per share and revenue of $194.08 billion. These totals would mark changes of -22.09% and -4.29%, respectively, from last year. Investors should also pay attention to any latest changes in analyst estimates for Chevron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 shifted 2.54% upward. Chevron is holding a Zacks Rank of #3 (Hold) right now. From a valuation perspective, Chevron is currently exchanging hands at a Forward P/E ratio of 20.1. This expresses a premium compared to the average Forward P/E of 10.99 of its industry. We can also see that CVX currently has a PEG ratio of 1.97. 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 1.84 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 93, which puts it in the top 38% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. 3 Stocks Poised to Lead the AI Software RaceThe software market is expected to witness a remarkable growth trajectory worldwide. Advancements in AI, increased demand for cybersecurity, and the rapid expansion of automation and robotics is offering investors an opportunity to unlock significant growth right now.Which software stocks will soar? Which will fizzle out? Find out in our urgent special report, Software is Eating the World. It examines where the software industry stands now and reveals three favorite software stocks to ownAccess the report free today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chevron Corporation (CVX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks