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 Chord Energy Corporation (CHRD) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Chord Energy Corporation is a member of the Oils-Energy sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. 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 328.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CHRD has returned about 51.1% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 28.3% on a year-to-date basis. 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 Crescent Energy (CRGY). The stock has returned 45.4% year-to-date.
For Crescent Energy, the consensus EPS estimate for the current year has increased 100.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong 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 #93 in the Zacks Industry Rank. Stocks in this group have gained about 26.5% so far this year, so CHRD is performing better this group in terms of year-to-date returns.
Crescent Energy, however, belongs to the Alternative Energy - Other industry. Currently, this 50-stock industry is ranked #105. The industry has moved +17.7% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Chord Energy Corporation and Crescent Energy as they could maintain their solid performance.
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Chord Energy Corporation (CHRD): Free Stock Analysis Report
Crescent Energy Company (CRGY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).