Chevron (CVX) closed the latest trading day at $152, indicating a -0.71% change from the previous session's end. This change was narrower than the S&P 500's 1.22% loss on the day. Meanwhile, the Dow experienced a drop of 1.55%, and the technology-dominated Nasdaq saw a decrease of 0.35%.

Heading into today, shares of the oil company had gained 2.51% over the past month, outpacing the Oils-Energy sector's loss of 3.38% and the S&P 500's loss of 2.31% in that time.

The investment community will be paying close attention to the earnings performance of Chevron in its upcoming release. The company's earnings per share (EPS) are projected to be $2.53, reflecting a 13.65% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $47.45 billion, down 2.59% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $10.79 per share and revenue of $197.99 billion, which would represent changes of +7.36% and -2.37%, respectively, from the prior year.

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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.63% decrease. Right now, Chevron possesses a Zacks Rank of #3 (Hold).

In terms of valuation, Chevron is presently being traded at a Forward P/E ratio of 14.19. This expresses a premium compared to the average Forward P/E of 7.69 of its industry.

We can additionally observe that CVX currently boasts a PEG ratio of 1.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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