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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? 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 a member of the Oils-Energy sector. This group includes 254 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Chevron is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CVX's full-year earnings has moved 15.4% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CVX has gained about 18.9% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 15.7% on average. As we can see, Chevron is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Kinetik Holdings Inc. (KNTK - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 18.8%.
The consensus estimate for Kinetik Holdings Inc.'s current year EPS has increased 71.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Chevron belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual companies and currently sits at #21 in the Zacks Industry Rank. Stocks in this group have gained about 20.1% so far this year, so CVX is slightly underperforming its industry this group in terms of year-to-date returns.
Kinetik Holdings Inc. however, belongs to the Oil and Gas - Field Services industry. Currently, this 26-stock industry is ranked #40. The industry has moved -7.8% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Chevron and Kinetik Holdings Inc. These stocks will be looking to continue their solid performance.
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Is Chevron (CVX) Stock Outpacing Its Oils-Energy Peers This Year?
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? 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 a member of the Oils-Energy sector. This group includes 254 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Chevron is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CVX's full-year earnings has moved 15.4% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CVX has gained about 18.9% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 15.7% on average. As we can see, Chevron is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Kinetik Holdings Inc. (KNTK - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 18.8%.
The consensus estimate for Kinetik Holdings Inc.'s current year EPS has increased 71.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Chevron belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual companies and currently sits at #21 in the Zacks Industry Rank. Stocks in this group have gained about 20.1% so far this year, so CVX is slightly underperforming its industry this group in terms of year-to-date returns.
Kinetik Holdings Inc. however, belongs to the Oil and Gas - Field Services industry. Currently, this 26-stock industry is ranked #40. The industry has moved -7.8% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Chevron and Kinetik Holdings Inc. These stocks will be looking to continue their solid performance.