Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Crescent Energy (CRGY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Crescent Energy is one of 240 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. 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 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. Crescent Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CRGY's full-year earnings has moved 61.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CRGY has returned 60.4% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 31.9% on a year-to-date basis. This means that Crescent Energy is outperforming the sector as a whole this year.
Another stock in the Oils-Energy sector, Chord Energy Corporation (CHRD), has outperformed the sector so far this year. The stock's year-to-date return is 56.5%.
In Chord Energy Corporation's case, the consensus EPS estimate for the current year increased 312.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Crescent Energy is a member of the Alternative Energy - Other industry, which includes 51 individual companies and currently sits at #67 in the Zacks Industry Rank. Stocks in this group have gained about 27.2% so far this year, so CRGY is performing better this group in terms of year-to-date returns.
Chord Energy Corporation, however, belongs to the Oil and Gas - Exploration and Production - United States industry. Currently, this 35-stock industry is ranked #11. The industry has moved +32.5% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Crescent Energy and Chord Energy Corporation as they could maintain their solid performance.
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Crescent Energy Company (CRGY): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).