There is one way to get some revenge when you are at the pump. While you are stuck putting $5+ gas on a weekly basis, there are companies out there putting all that money in their coffers. It’s part of a Peter Lynch style “Buy what you know” strategy as well. Recently, it has been one of the most profitable trades of the year. Loading the boat on energy stocks has certainly paid off in 2022. The question now is, will it continue?

Today’s Bull of the Day is a stock in the energy sector which as been rocking and rolling. I am talking about Zacks Rank #1 (Strong Buy) Chevron (CVX Quick QuoteCVX - Free Report) . Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. It is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. 

Chevron is in the Oil and Gas – Integrated – International industry which ranks in the Top 16% of our Zacks Industry Rank. The reason for the favorable rank is the series of positive earnings estimate revisions coming from analysts. Over the last sixty days, eight analysts have increased their numbers for the current year while seven have done so for next year. The bullish sentiment has pushed up our Zacks Consensus Estimates for the current year from $9.89 to $13.04 while next year’s number is up from $8.38 to $10.54.

Next year, things could slow down a bit. Analysts realize that oil prices are likely to come down to Earth. That’s why next year’s revenue numbers are forecast to come down 3.36% while earnings are set to contract by 19% next year.