Is Chevron (CVX) Outperforming 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? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Chevron is one of 251 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #7 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CVX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CVX's full-year earnings has moved 54.41% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CVX has returned about 32.10% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 25.15%. This shows that Chevron is outperforming its peers so far this year.
Breaking things down more, CVX is a member of the Oil and Gas - Integrated - International industry, which includes 18 individual companies and currently sits at #37 in the Zacks Industry Rank. Stocks in this group have gained about 32.09% so far this year, so CVX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to CVX as it looks to continue its solid performance.
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