The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Chord Energy Corporation (CHRD) 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.
Chord Energy Corporation is one of 234 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within 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 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. Chord Energy Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CHRD's full-year earnings has moved 83.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CHRD has gained about 57.8% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 33.3% on average. As we can see, Chord Energy Corporation is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is EOG Resources (EOG). The stock has returned 42.7% year-to-date.
In EOG Resources' case, the consensus EPS estimate for the current year increased 30% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Chord Energy Corporation is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 34 individual companies and currently sits at #44 in the Zacks Industry Rank. On average, this group has gained an average of 43% so far this year, meaning that CHRD is performing better in terms of year-to-date returns. EOG Resources is also part of the same industry.
Chord Energy Corporation and EOG Resources could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Chord Energy Corporation (CHRD): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).