Has Chevron (CVX) Outpaced Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of Chevron (CVX), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CVX and the rest of the Oils-Energy group's stocks.
Chevron is a member of our Oils-Energy group, which includes 251 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CVX is currently sporting a Zacks Rank of #3 (Hold).
Over the past three months, the Zacks Consensus Estimate for CVX's full-year earnings has moved 62.82% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CVX has gained about 30.28% so far this year. In comparison, Oils-Energy companies have returned an average of 25.72%. This means that Chevron is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CVX belongs to the Oil and Gas - Integrated - International industry, a group that includes 18 individual stocks and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have gained about 29.69% so far this year, so CVX is performing better this group in terms of year-to-date returns.
CVX will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.
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