Is Constellation Energy Corporation (CEG) 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. Is Constellation Energy Corporation (CEG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Constellation Energy Corporation is one of 249 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #15 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 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. Constellation Energy Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CEG's full-year earnings has moved 7.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CEG has moved about 52.5% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 5.6%. This means that Constellation Energy Corporation is performing better than its sector in terms of year-to-date returns.
Helmerich & Payne (HP) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14%.
For Helmerich & Payne, the consensus EPS estimate for the current year has increased 13.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Constellation Energy Corporation belongs to the Alternative Energy - Other industry, a group that includes 39 individual stocks and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 5.7% so far this year, so CEG is performing better this group in terms of year-to-date returns.
Helmerich & Payne, however, belongs to the Oil and Gas - Drilling industry. Currently, this 12-stock industry is ranked #214. The industry has moved +3.4% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Constellation Energy Corporation and Helmerich & Payne as they could maintain their solid performance.
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