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Chevron (CVX) Outpaces Stock Market Gains: What You Should Know

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Chevron (CVX) closed at $113.85 in the latest trading session, marking a +0.93% move from the prior day. This move outpaced the S&P 500's daily gain of 0.48%.

Coming into today, shares of the oil company had gained 12.13% in the past month. In that same time, the Oils-Energy sector gained 13.33%, while the S&P 500 gained 3.46%.

CVX will be looking to display strength as it nears its next earnings release, which is expected to be October 29, 2021. The company is expected to report EPS of $2.21, up 1909.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.47 billion, up 73.68% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.42 per share and revenue of $149.4 billion. These totals would mark changes of +3810% and +57.78%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for CVX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. The Zacks Consensus EPS estimate has moved 10.21% higher within the past month. CVX is currently a Zacks Rank #1 (Strong Buy).

Looking at its valuation, CVX is holding a Forward P/E ratio of 15.2. This valuation marks a premium compared to its industry's average Forward P/E of 8.54.

It is also worth noting that CVX currently has a PEG ratio of 3.04. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.62 as of yesterday's close.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 4, which puts it in the top 2% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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