Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Canadian Natural Resources (CNQ) 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.
Canadian Natural Resources is one of 252 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #10 in 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Canadian Natural Resources is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CNQ's full-year earnings has moved 32.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CNQ has moved about 29.8% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 24.9% on average. This shows that Canadian Natural Resources is outperforming its peers so far this year.
ProPetro Holding (PUMP) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 35.7%.
In ProPetro Holding's case, the consensus EPS estimate for the current year increased 83.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Canadian Natural Resources is a member of the Oil and Gas - Exploration and Production - Canadian industry, which includes 8 individual companies and currently sits at #236 in the Zacks Industry Rank. On average, this group has gained an average of 34.6% so far this year, meaning that CNQ is slightly underperforming its industry in terms of year-to-date returns.
In contrast, ProPetro Holding falls under the Oil and Gas - Field Services industry. Currently, this industry has 20 stocks and is ranked #158. Since the beginning of the year, the industry has moved +28.4%.
Investors interested in the Oils-Energy sector may want to keep a close eye on Canadian Natural Resources and ProPetro Holding as they attempt to continue their solid performance.
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Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).