Chevron holds a Zacks Earnings ESP of +4.60% and a Zacks Rank #2 (Buy) heading into its next quarterly report, a combination that suggests another earnings beat may be around the corner. The oil company has beaten estimates in each of its last two reports, with an average surprise of 28.87%. In the last reported quarter, Chevron earned $6.06 per share against a Zacks Consensus Estimate of $5.8 per share, a surprise of 4.48%. In the prior quarter, it posted earnings of $1.41 per share versus an expected $0.92 per share, a surprise of 53.26%. Estimates have been trending higher, and Zacks research shows that stocks combining a positive Earnings ESP with a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time.
Chevron CorpChevron's positive Earnings ESP of +4.60% and Zacks Rank #2 (Buy) suggest another earnings beat, following beats in each of its last two reports.
