Chevron (CVX) Stock Moves -0.23%: What You Should Know

In the latest market close, Chevron (CVX) reached $155.65, with a -0.23% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.29%. Elsewhere, the Dow saw a downswing of 0.32%, while the tech-heavy Nasdaq depreciated by 0.5%.Heading into today, shares of the oil company had gained 8.36% over the past month, outpacing the Oils-Energy sector's loss of 1.71% and the S&P 500's gain of 2.52% in that time.The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company is slated to reveal its earnings on January 31, 2025. The company is expected to report EPS of $2.19, down 36.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $46.96 billion, down 0.46% from the year-ago period.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Chevron. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 1.9% fall in the Zacks Consensus EPS estimate. As of now, Chevron holds a Zacks Rank of #3 (Hold).In the context of valuation, Chevron is at present trading with a Forward P/E ratio of 13.63. This denotes a premium relative to the industry's average Forward P/E of 9.1.We can also see that CVX currently has a PEG ratio of 1.35. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - International industry had an average PEG ratio of 1.88 as trading concluded yesterday.The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chevron Corporation (CVX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks