Chevron (CVX) closed at $148.11 in the latest trading session, marking a -0.84% move from the prior day. This change lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow experienced a drop of 0.61%, and the technology-dominated Nasdaq saw a decrease of 0.32%.

Prior to today's trading, shares of the oil company had lost 7.09% over the past month. This has lagged the Oils-Energy sector's loss of 5.09% and the S&P 500's gain of 3.6% in that time.

Market participants will be closely following the financial results of Chevron in its upcoming release. The company's earnings per share (EPS) are projected to be $2.45, reflecting a 28.99% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $48.1 billion, showing a 1.95% escalation compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.51 per share and a revenue of $195.95 billion, indicating changes of -19.95% and -2.49%, respectively, from the former year.

Investors might also notice recent changes to analyst estimates for Chevron. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% decrease. As of now, Chevron holds a Zacks Rank of #3 (Hold).

Looking at its valuation, Chevron is holding a Forward P/E ratio of 14.21. This expresses a premium compared to the average Forward P/E of 7.73 of its industry.

We can additionally observe that CVX currently boasts a PEG ratio of 2.84. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 2.04 at the close of the market yesterday.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 75, finds itself in the top 30% echelons of all 250+ industries.