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Is Chevron (CVX) Stock Outpacing Its Oils-Energy Peers This Year?
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Investors focused on the Oils-Energy space have likely heard of Chevron (CVX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Chevron is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #5 within 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CVX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CVX's full-year earnings has moved 64.69% 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 25.22% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 17.85% on a year-to-date basis. 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, which includes 18 individual stocks and currently sits at #22 in the Zacks Industry Rank. This group has gained an average of 21.87% so far this year, so CVX is performing better in this area.
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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Is Chevron (CVX) Stock Outpacing Its Oils-Energy Peers This Year?
Investors focused on the Oils-Energy space have likely heard of Chevron (CVX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Chevron is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #5 within 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CVX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CVX's full-year earnings has moved 64.69% 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 25.22% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 17.85% on a year-to-date basis. 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, which includes 18 individual stocks and currently sits at #22 in the Zacks Industry Rank. This group has gained an average of 21.87% so far this year, so CVX is performing better in this area.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to CVX as it looks to continue its solid performance.