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 Crescent Energy (CRGY) 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.
Crescent Energy is a member of the Oils-Energy sector. This group includes 238 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. Crescent Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CRGY's full-year earnings has moved 51.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CRGY has moved about 24.4% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 19.9% on average. This shows that Crescent Energy is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Phillips 66 (PSX). The stock has returned 28.8% year-to-date.
The consensus estimate for Phillips 66's current year EPS has increased 57.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Crescent Energy belongs to the Alternative Energy - Other industry, a group that includes 50 individual companies and currently sits at #149 in the Zacks Industry Rank. This group has gained an average of 21.4% so far this year, so CRGY is performing better in this area.
Phillips 66, however, belongs to the Oil and Gas - Refining and Marketing industry. Currently, this 17-stock industry is ranked #30. The industry has moved +32.2% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Crescent Energy and Phillips 66. These stocks will be looking to continue their solid performance.
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Crescent Energy Company (CRGY): Free Stock Analysis Report
Phillips 66 (PSX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).