Strength Seen in Chevron (CVX): Can Its 6.7% Jump Turn into More Strength?

Group 1 - Chevron shares increased by 6.7% to close at $146.03, following a notable trading volume compared to typical sessions, despite a previous 11.1% loss over the past four weeks [1] - The rise in Chevron's stock price is attributed to higher oil prices enhancing its upstream operations and profitability, alongside reduced trade uncertainties due to President Trump's tariff announcement [2] - The consensus EPS estimate for Chevron's upcoming quarterly earnings is$ 2.49, reflecting a year-over-year decline of 15%, with expected revenues of $47.52 billion, down 2.5% from the previous year [3] Group 2 - Over the last 30 days, Chevron's consensus EPS estimate has been revised 3.9% lower, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] - Chevron holds a Zacks Rank of 3 (Hold), indicating a neutral outlook, while Petrobras, another company in the same industry, also holds a Zacks Rank of 3 [4][5] - Petrobras' consensus EPS estimate remains unchanged at$ 1.07, representing a year-over-year increase of 42.7% [5]