The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Chevron (CVX) one of those stocks right now? 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 #4 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).
Within the past quarter, the Zacks Consensus Estimate for CVX's full-year earnings has moved 48.28% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CVX has moved about 19.99% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 14.76%. 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 #6 in the Zacks Industry Rank. On average, stocks in this group have gained 20.35% this year, meaning that CVX is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on CVX as it attempts to continue its solid performance.
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