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

Zacks Equity Research
·2-min read

Chevron (CVX) closed the most recent trading day at $108.96, moving +2.69% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.07%.

The company is expected to report EPS of $1.46, up 191.82% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $33.34 billion, up 147.04% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.34 per share and revenue of $133.82 billion, which would represent changes of +2770% and +41.32%, respectively, from the prior 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.

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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. Over the past month, the Zacks Consensus EPS estimate has moved 5.82% higher. CVX is currently a Zacks Rank #3 (Hold).

Digging into valuation, CVX currently has a Forward P/E ratio of 19.88. For comparison, its industry has an average Forward P/E of 9.7, which means CVX is trading at a premium to the group.

Investors should also note that CVX has a PEG ratio of 3.98 right now. 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 0.64 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 55, which puts it in the top 22% 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.

To follow CVX in the coming trading sessions, be sure to utilize Zacks.com.


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Zacks Investment Research