Tue., August 17, 2021, 8:30 a.m.
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. 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 252 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #9 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CVX is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CVX's full-year earnings has moved 21.88% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CVX has returned about 19.50% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 19.06%. This shows that Chevron is outperforming its peers so far this year.
Looking more specifically, CVX belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual stocks and currently sits at #31 in the Zacks Industry Rank. On average, stocks in this group have gained 27.23% this year, meaning that CVX is slightly underperforming its industry in terms of year-to-date returns.
CVX will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.
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