Chevron (CVX) Outperforms Market Despite Negative Trends: Zacks Rank and Earnings Outlook
Chevron (CVX) closed the latest trading session at $148.85, marking a 1.93% increase from the previous day's closing price. The stock's performance outpaced the S&P 500's daily loss of 0.84%, while the Dow lost 0.7% and the technology-focused Nasdaq decreased by 0.91%. Over the past month, Chevron shares have gained 2.77%, outpacing the Oils-Energy sector's 0% loss and the S&P 500's 1.44% gain. The upcoming earnings release of the company is expected to be of great interest to investors, with an anticipated EPS of $1.58, marking a 38.04% fall compared to the same quarter of the previous year. The Zacks Consensus Estimates for the full year are calling for earnings of $6.87 per share and revenue of $190.14 billion, representing year-over-year changes of -31.64% and -6.24%, respectively. Investors may also notice recent changes to analyst estimates for Chevron, which often mirror the shifting dynamics of short-term business patterns. These estimate alterations are directly linked with the stock price performance in the near future, and to utilize this, Zacks has created a proprietary model called the Zacks Rank system. The Zacks Rank spans from #1 (Strong Buy) to #5 (Strong Sell), with a #1 ranked stock yielding an average annual return of +25% since 1988. Currently, Chevron possesses a Zacks Rank of #3 (Hold), with a Forward P/E ratio of 21.26, which marks a premium compared to its industry average Forward P/E of 10.93. The Oil and Gas - Integrated - International industry, which Chevron belongs to, is part of the Oils-Energy sector and holds a current Zacks Industry Rank of 203, ranking in the bottom 18% of all industries. 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 these stock-moving metrics and many more on Zacks.com to stay informed about the latest market trends and investment opportunities. Don't miss out on the latest recommendations from Zacks Investment Research. Download 7 Best Stocks for the Next 30 Days today by clicking the link provided.
Chevron (CVX) stands apart amidst negative industry trends, evidencing its robust financial performance and Zacks' favorable ranking. The company’s outlook on earnings speaks to a solid strategy that continues outpacing the market.
Chevron (CVX) impresses with its resilience against negative market trends, maintaining a strong Zacks Rank and promising earnings outlook. Its steady performance showcases the company's potential to continue outshining in an uncertain economy.
Chevron (CVX)'s resilient performance in spite of adverse market trends highlights its sturdy fundamentals and strategic positioning, as indicated by the favorable Zacks Rank & promising earnings outlook.
