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Is Chevron (CVX) Stock Outpacing Its Oils-Energy Peers This Year?
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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Chevron (CVX - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CVX and the rest of the Oils-Energy group's stocks.
Chevron is a member of the Oils-Energy sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 24.62% 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 38.33% so far this year. At the same time, Oils-Energy stocks have gained an average of 37.90%. This means that Chevron is outperforming the sector as a whole this year.
To break things down more, CVX belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual companies and currently sits at #26 in the Zacks Industry Rank. This group has gained an average of 46.44% so far this year, so CVX is slightly underperforming its industry in this area.
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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Is Chevron (CVX) Stock Outpacing Its Oils-Energy Peers This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Chevron (CVX - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CVX and the rest of the Oils-Energy group's stocks.
Chevron is a member of the Oils-Energy sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 24.62% 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 38.33% so far this year. At the same time, Oils-Energy stocks have gained an average of 37.90%. This means that Chevron is outperforming the sector as a whole this year.
To break things down more, CVX belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual companies and currently sits at #26 in the Zacks Industry Rank. This group has gained an average of 46.44% so far this year, so CVX is slightly underperforming its industry in this area.
Investors in the Oils-Energy sector will want to keep a close eye on CVX as it attempts to continue its solid performance.