For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Chord Energy Corporation (CHRD) 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? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Chord Energy Corporation is a member of the Oils-Energy sector. This group includes 254 individual stocks and currently holds a Zacks Sector Rank of #2. 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. Chord Energy Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CHRD's full-year earnings has moved 15.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CHRD has moved about 66.7% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 38.5%. This shows that Chord Energy Corporation is outperforming its peers so far this year.
Another stock in the Oils-Energy sector, Chevron (CVX), has outperformed the sector so far this year. The stock's year-to-date return is 47.6%.
The consensus estimate for Chevron's current year EPS has increased 19.8% 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 #35 in the Zacks Industry Rank. Stocks in this group have gained about 35.3% so far this year, so CHRD is performing better this group in terms of year-to-date returns.
On the other hand, Chevron belongs to the Oil and Gas - Integrated - International industry. This 19-stock industry is currently ranked #20. The industry has moved +50.2% year to date.
Chord Energy Corporation and Chevron could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This innovative software-as-a-service firm upped its user base +22% year over year. That rate is increasing and margins are expanding as AI efficiencies take effect. Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Chord Energy Corporation (CHRD): Free Stock Analysis Report
Chevron Corporation (CVX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).