Investors focused on the Oils-Energy space have likely heard of California Resources (CRC), but is the stock performing well in comparison to the rest of its sector peers? 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.
California Resources is one of 325 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #2 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 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. CRC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CRC's full-year earnings has moved 208.68% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CRC has returned 90.02% so far this year. In comparison, Oils-Energy companies have returned an average of 7.13%. This means that California Resources is performing better than its sector in terms of year-to-date returns.
Breaking things down more, CRC is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 73 individual companies and currently sits at #60 in the Zacks Industry Rank. On average, this group has gained an average of 7.91% so far this year, meaning that CRC is performing better in terms of year-to-date returns.
CRC will likely be looking to continue its solid performance, so investors interested Oils-Energy stocks should continue to pay close attention to the company.
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
California Resources Corporation (CRC) : Free Stock Analysis Report
To read this article on Zacks.com click here.