One stock that might be an intriguing choice for investors right now is Chevron Corporation CVX. This is because this security in the Oil and Gas - Integrated - International space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil and Gas - Integrated - International space as it currently has a Zacks Industry Rank of 69 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Chevron is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past two months, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Chevron Corporation Price and Consensus
In fact, over the past two months, current quarter estimates have narrowed from a loss of 86 cents per share to a loss of 77 cents per share, while current year estimates have moved from a loss of 39 cents per share to an earnings of 32 cents per share. This has helped CVX to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Chevron. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.