Chevron – Chevron (CVX) Dips More Than Broader Markets: What You Should Know – December 29, 2020
Chevron (CVX – Free Report) closed the most recent trading day at $84.61, moving -0.34% from the previous trading session. This change lagged the S&P 500’s daily loss of 0.22%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, lost 0.38%.
Prior to today’s trading, shares of the oil company had lost 2.62% over the past month. This has lagged the Oils-Energy sector’s gain of 0.21% and the S&P 500’s gain of 2.78% in that time.
Wall Street will be looking for positivity from CVX as it approaches its next earnings report date. The company is expected to report EPS of $0.12, down 91.95% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $27.86 billion, down 23.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.08 per share and revenue of $98.85 billion, which would represent changes of -101.28% and -32.53%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for CVX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 230% lower. CVX is currently a Zacks Rank #3 (Hold).
The Oil and Gas – Integrated – International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 237, putting it in the bottom 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.