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Is Cenovus Energy (CVE) Outperforming Other Oils-Energy Stocks This Year?

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Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Cenovus Energy (CVE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Cenovus Energy is one of 256 companies in the Oils-Energy group. The Oils-Energy group currently sits at #3 within 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 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. Cenovus Energy is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for CVE's full-year earnings has moved 9.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that CVE has returned about 24.5% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 16.2% on average. This shows that Cenovus Energy is outperforming its peers so far this year.

Another Oils-Energy stock, which has outperformed the sector so far this year, is Black Stone Minerals (BSM). The stock has returned 17.1% year-to-date.

The consensus estimate for Black Stone Minerals' current year EPS has increased 1.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Cenovus Energy is a member of the Oil and Gas - Integrated - Canadian industry, which includes 3 individual companies and currently sits at #9 in the Zacks Industry Rank. On average, stocks in this group have gained 21.3% this year, meaning that CVE is performing better in terms of year-to-date returns.

Black Stone Minerals, however, belongs to the Energy and Pipeline - Master Limited Partnerships industry. Currently, this 2-stock industry is ranked #105. The industry has moved +17.8% so far this year.

Investors with an interest in Oils-Energy stocks should continue to track Cenovus Energy and Black Stone Minerals. These stocks will be looking to continue their solid performance.


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Cenovus Energy Inc (CVE) : Free Stock Analysis Report
 
Black Stone Minerals, L.P. (BSM) : Free Stock Analysis Report
 
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