Abhoy Sarkar's Avatar
published in Blogs
Aug 02, 2019

Chevron (CVX, $119.04) Q2 earnings jump +27%, beat expectations

Chevron Corp. reported second quarter earnings that edged past analysts’ expectations, even as revenue missed estimates.

The energy company’s earnings for the three months ending in June surged around +27.5% year-over-year to $2.27 per share, crushing the Street consensus forecast of $1.78 per share.

The company benefited from a $1 billion termination fee it received after Occidental Petroleum bought Anadarko Petroleum with a winning $38 billion bid. The termination fee added $720 million to the quarter’s profit, Chevron said.

However, total revenue for the company declined -21% from the year-ago quarter to $36 billion, falling short of analysts' estimates of $40.55 billion.

While its U.S. shale production climbed +21% during the quarter, it was offset by sharply lower oil and gas prices. 

Chevron’s daily production of oil and gas rose +9.1% to 3.08 million barrels - a record high for the company. 

The company indicated that it  expects to buy back $5 billion in its shares this quarter.

Related Ticker: CVX

CVX in downward trend: 10-day moving average broke below 50-day moving average on May 08, 2023

The 10-day moving average for CVX crossed bearishly below the 50-day moving average on May 08, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on May 25, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on CVX as a result. In of 79 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

CVX moved below its 50-day moving average on May 02, 2023 date and that indicates a change from an upward trend to a downward trend.

The 50-day moving average for CVX moved below the 200-day moving average on April 25, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where CVX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for CVX entered a downward trend on May 26, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where CVX's RSI Oscillator exited the oversold zone, of 26 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 54 cases where CVX's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for CVX just turned positive on May 24, 2023. Looking at past instances where CVX's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CVX advanced for three days, in of 340 cases, the price rose further within the following month. The odds of a continued upward trend are .

CVX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock better than average.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: CVX's P/B Ratio (1.831) is slightly higher than the industry average of (1.047). P/E Ratio (8.319) is within average values for comparable stocks, (15.050). Projected Growth (PEG Ratio) (2.411) is also within normal values, averaging (4.136). Dividend Yield (0.038) settles around the average of (0.103) among similar stocks. CVX's P/S Ratio (1.280) is slightly higher than the industry average of (0.582).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly weaker than average sales and a marginally profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. CVX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

Notable companies

The most notable companies in this group are Exxon Mobil Corp (NYSE:XOM), Chevron Corp (NYSE:CVX), BP plc (NYSE:BP), Petroleo Brasileiro Sa-Petrobras ADS (REP 1 Common Share) (NYSE:PBR), Suncor Energy (NYSE:SU), YPF Sociedad Anonima (NYSE:YPF).

Industry description

Integrated oil companies are involved across nearly the entire oil value chain – from upstream operations like exploration and production, to downstream functions of refining and marketing. Exxon Mobil Corporation, Chevron Corporation and BP are major integrated oil companies. Their bottom lines’ response to crude oil prices could depend on the proportion of upstream vs. downstream businesses; for example, if a company has substantial downstream business, the adverse impact on their upstream business due to falling crude prices could be mitigated by benefits to its downstream business.

Market Cap

The average market capitalization across the Integrated Oil Industry is 54.88B. The market cap for tickers in the group ranges from 36.14K to 424.39B. XOM holds the highest valuation in this group at 424.39B. The lowest valued company is PGAS at 36.14K.

High and low price notable news

The average weekly price growth across all stocks in the Integrated Oil Industry was -1%. For the same Industry, the average monthly price growth was -3%, and the average quarterly price growth was -3%. POGS experienced the highest price growth at 16%, while BNMV experienced the biggest fall at -30%.

Volume

The average weekly volume growth across all stocks in the Integrated Oil Industry was -8%. For the same stocks of the Industry, the average monthly volume growth was -26% and the average quarterly volume growth was 55%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 38
P/E Growth Rating: 72
Price Growth Rating: 62
SMR Rating: 42
Profit Risk Rating: 83
Seasonality Score: 26 (-100 ... +100)
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