In the latest trading session, Chevron (CVX) closed at $115.49, marking a -0.36% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.33%. Meanwhile, the Dow lost 2.24%, and the Nasdaq, a tech-heavy index, lost 3.05%.
Prior to today's trading, shares of the oil company had lost 2.89% over the past month. This has was narrower than the Oils-Energy sector's loss of 7.26% and lagged the S&P 500's loss of 1.93% in that time.
Investors will be hoping for strength from CVX as it approaches its next earnings release, which is expected to be February 1, 2019. On that day, CVX is projected to report earnings of $2.40 per share, which would represent year-over-year growth of 228.77%. Meanwhile, our latest consensus estimate is calling for revenue of $44.78 billion, up 19.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.26 per share and revenue of $168.77 billion, which would represent changes of +123.24% and +19.08%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CVX. These recent revisions tend to reflect the evolving nature of short-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 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 1.65% lower within the past month. CVX is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, CVX currently has a Forward P/E ratio of 14.03. This valuation marks a premium compared to its industry's average Forward P/E of 10.
Meanwhile, CVX's PEG ratio is currently 2. 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 was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.