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

Zacks Equity Research
·3-min read

Chevron (CVX) closed the most recent trading day at $75.53, moving -1.01% from the previous trading session. This change lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 1.72%.

Heading into today, shares of the oil company had lost 12.5% over the past month, lagging the Oils-Energy sector's loss of 8.87% and the S&P 500's loss of 3.29% in that time.

Investors will be hoping for strength from CVX as it approaches its next earnings release. The company is expected to report EPS of $0, down 100% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $25.79 billion, down 28.59% from the prior-year quarter.

CVX's full-year Zacks Consensus Estimates are calling for earnings of $0.10 per share and revenue of $101.93 billion. These results would represent year-over-year changes of -98.41% and -30.43%, respectively.

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It is also important to note the recent changes to analyst estimates for CVX. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CVX is holding a Zacks Rank of #4 (Sell) right now.

Investors should also note CVX's current valuation metrics, including its Forward P/E ratio of 778.57. This represents a premium compared to its industry's average Forward P/E of 23.22.

Investors should also note that CVX has a PEG ratio of 155.71 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. CVX's industry had an average PEG ratio of 17.08 as of yesterday's close.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 10% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.


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