For its first fiscal quarter (ending March 31), Chevron Corp (NYSE: CVX) has reported a -14% decline in E.P.S. from $3.48 a year ago to $2.99 in the current quarter. This performance was $-0.49 short of the consensus estimate of $3.48. E.P.S. were $10.92 for the latest four quarters through March 31 versus $18.61 for the same period a year ago — a decline of -41%.
Recent Price Action
Chevron Corp (NYSE: CVX) stock rose modestly by 0.4% on 4/26/24. The stock closed at $165.89. NORMAL trading volume accompanied the advance. The stock has been weak relative to the market over the last nine months but has risen 5.3% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, CVX is expected to continue to be a major Value Builder.
Chevron has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Chevron has a good Appreciation Score of 73 but a neutral Power Rating of 43, triggering the High Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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