The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Chevron (CVX - Free Report) 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 a member of the Oils-Energy sector. This group includes 311 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CVX's full-year earnings has moved 16.37% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CVX has returned 7.82% so far this year. In comparison, Oils-Energy companies have returned an average of 5.97%. This means that Chevron is performing better than its sector in terms of year-to-date returns.
To break things down more, CVX belongs to the Oil and Gas - Integrated - International industry, a group that includes 15 individual companies and currently sits at #66 in the Zacks Industry Rank. On average, this group has gained an average of 6.70% so far this year, meaning that CVX is performing better in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track CVX. The stock will be looking to continue its solid performance.