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Is Chevron (CVX) Stock Outpacing Its Oils-Energy Peers This Year?

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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Chevron (CVX - Free Report) been one of those stocks this year? 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 a member of our Oils-Energy group, which includes 254 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. Chevron 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 25.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, CVX has gained about 32.7% so far this year. In comparison, Oils-Energy companies have returned an average of 28%. This shows that Chevron is outperforming its peers so far this year.

PDC Energy (PDCE - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 131.2%.

For PDC Energy, the consensus EPS estimate for the current year has increased 26.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Chevron belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual stocks and currently sits at #55 in the Zacks Industry Rank. This group has gained an average of 37.4% so far this year, so CVX is slightly underperforming its industry in this area.

In contrast, PDC Energy falls under the Oil and Gas - Exploration and Production - United States industry. Currently, this industry has 43 stocks and is ranked #16. Since the beginning of the year, the industry has moved +94.7%.

Investors interested in the Oils-Energy sector may want to keep a close eye on Chevron and PDC Energy as they attempt to continue their solid performance.


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