Is Canadian Natural Resources Limited (CNQ) Stock Outpacing Its Oils-Energy Peers This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. 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 243 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Canadian Natural Resources is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CNQ's full-year earnings has moved 9.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CNQ has returned 10.3% so far this year. At the same time, Oils-Energy stocks have lost an average of 2.2%. This means that Canadian Natural Resources is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is PBF Energy (PBF). The stock is up 0.2% year-to-date.
The consensus estimate for PBF Energy's current year EPS has increased 19.8% 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 #92 in the Zacks Industry Rank. This group has lost an average of 2.8% so far this year, so CNQ is performing better in this area.
PBF Energy, however, belongs to the Oil and Gas - Refining and Marketing industry. Currently, this 15-stock industry is ranked #43. The industry has moved +5.2% so far this year.
Canadian Natural Resources and PBF Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
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