Chevron (CVX) Stock Sinks As Market Gains: Here's Why

In the latest trading session, Chevron (CVX) closed at $180.40, marking a -3.64% move from the previous day. This change lagged the S&P 500's 1.65% gain on the day. Meanwhile, the Dow gained 0.92%, and the Nasdaq, a tech-heavy index, added 3.07%. The oil company's shares have seen a decrease of 2.03% over the last month, surpassing the Oils-Energy sector's loss of 2.71% and falling behind the S&P 500's gain of 0.48%.The investment community will be closely monitoring the performance of Chevron in its forthcoming earnings report. It is anticipated that the company will report an EPS of $5.76, marking a 225.42% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $58.23 billion, indicating a 29.91% increase compared to the same quarter of the previous year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.88 per share and revenue of $221.76 billion. These totals would mark changes of +117.83% and +17.31%, respectively, from last year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Chevron. 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 business outlook. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.28% increase. As of now, Chevron holds a Zacks Rank of #3 (Hold). Looking at valuation, Chevron is presently trading at a Forward P/E ratio of 11.79. This signifies a premium in comparison to the average Forward P/E of 7.97 for its industry. We can also see that CVX currently has a PEG ratio of 0.61. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.57 based on yesterday's closing prices. The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 19% echelons of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks