Yahoo Finance Has Canadian Natural Resources (CNQ) Outpaced Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Canadian Natural Resources (CNQ) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Canadian Natural Resources is one of 253 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. 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. Canadian Natural Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CNQ's full-year earnings has moved 1.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CNQ has gained about 73.1% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 35% on average. This shows that Canadian Natural Resources is outperforming its peers so far this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Denbury (DEN). The stock is up 227% year-to-date.
In Denbury's case, the consensus EPS estimate for the current year increased 16.7% 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 5 individual companies and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 80.8% so far this year, so CNQ is slightly underperforming its industry in this area.
Denbury, however, belongs to the Oil and Gas - Exploration and Production - United States industry. Currently, this 43-stock industry is ranked #51. The industry has moved +110.3% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on Canadian Natural Resources and Denbury as they attempt to continue their solid performance.
Want 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
Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
Denbury Inc. (DEN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
