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? 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.
Chord Energy Corporation is a member of our Oils-Energy group, which includes 240 different companies and currently sits at #1 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 174.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CHRD has moved about 40.1% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 25.4%. As we can see, Chord Energy Corporation is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Matador Resources (MTDR), has outperformed the sector so far this year. The stock's year-to-date return is 34.5%.
Over the past three months, Matador Resources' consensus EPS estimate for the current year has increased 61.8%. 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 35 individual companies and currently sits at #22 in the Zacks Industry Rank. This group has gained an average of 23.9% so far this year, so CHRD is performing better in this area. Matador Resources is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Chord Energy Corporation and Matador Resources as they could maintain their solid performance.
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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).