In the latest trading session, Chevron (CVX) closed at $107.75, marking a -0.65% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%.Coming into today, shares of the oil company had lost 1.43% in the past month. In that same time, the Oils-Energy sector gained 10.31%, while the S&P 500 gained 1.68%.Investors will be hoping for strength from CVX as it approaches its next earnings release. The company is expected to report EPS of $1.47, up 192.45% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.76 billion, up 157.63% from the year-ago period.CVX's full-year Zacks Consensus Estimates are calling for earnings of $5.40 per share and revenue of $133.57 billion. These results would represent year-over-year changes of +2800% and +41.05%, respectively.It is also important to note the recent changes to analyst estimates for CVX. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.59% lower within the past month. CVX is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, CVX is holding a Forward P/E ratio of 20.08. This represents a premium compared to its industry's average Forward P/E of 9.45.It is also worth noting that CVX currently has a PEG ratio of 4.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.69 at yesterday's closing price.The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chevron Corporation (CVX): Free Stock Analysis Report To read this article on Zacks.com click here.