Chevron (CVX) Rises As Market Takes a Dip: Key Facts

In the latest close session, Chevron (CVX) was up +1.12% at $159.18. The stock's change was more than the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, lost 0.34%. Shares of the oil company witnessed a gain of 0.04% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 2.23%, and the S&P 500's gain of 3.08%.The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. 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. Meanwhile, the latest consensus estimate predicts the revenue to be $52.06 billion, indicating a 2.74% increase compared to the same quarter of the previous year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.83 per share and a revenue of $194.08 billion, indicating changes of -22.09% and -4.29%, respectively, from the former 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.46% rise in the Zacks Consensus EPS estimate. Chevron presently features a Zacks Rank of #3 (Hold). From a valuation perspective, Chevron is currently exchanging hands at a Forward P/E ratio of 20.11. For comparison, its industry has an average Forward P/E of 10.75, which means Chevron is trading at a premium to the group. Also, we should mention that CVX has a PEG ratio of 1.97. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 1.82 as of yesterday's close. The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 37% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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. Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>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