Chevron (CVX) closed at $107.15 in the latest trading session, marking a +0.02% move from the prior day. This change outpaced the S&P 500's 0.24% loss on the day.Coming into today, shares of the oil company had gained 9.35% in the past month. In that same time, the Oils-Energy sector gained 14.14%, while the S&P 500 lost 2.12%.CVX will be looking to display strength as it nears its next earnings release, which is expected to be October 29, 2021. The company is expected to report EPS of $2.16, up 1863.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $41.52 billion, up 69.79% from the year-ago period.CVX's full-year Zacks Consensus Estimates are calling for earnings of $7.18 per share and revenue of $147.73 billion. These results would represent year-over-year changes of +3690% and +56.02%, respectively.Investors should also note any recent changes to analyst estimates for CVX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.53% higher. CVX is currently sporting a Zacks Rank of #2 (Buy).Investors should also note CVX's current valuation metrics, including its Forward P/E ratio of 14.93. For comparison, its industry has an average Forward P/E of 8.54, which means CVX is trading at a premium to the group.It is also worth noting that CVX currently has a PEG ratio of 2.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.54 at yesterday's closing price.The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% 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.To follow CVX in the coming trading sessions, be sure to utilize Zacks.com. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>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.