Is CVR Energy (CVI) Stock Outpacing Its Oils-Energy Peers 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 CVR Energy (CVI) been one of those stocks this year? 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.
CVR Energy is one of 254 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #2 in 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. CVR Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CVI's full-year earnings has moved 73.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CVI has gained about 94% so far this year. At the same time, Oils-Energy stocks have gained an average of 30.4%. This shows that CVR Energy is outperforming its peers so far this year.
HF Sinclair (DINO) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 60.6%.
In HF Sinclair's case, the consensus EPS estimate for the current year increased 82.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, CVR Energy is a member of the Oil and Gas - Refining and Marketing industry, which includes 16 individual companies and currently sits at #2 in the Zacks Industry Rank. On average, stocks in this group have gained 33.2% this year, meaning that CVI is performing better in terms of year-to-date returns.
In contrast, HF Sinclair falls under the Alternative Energy - Other industry. Currently, this industry has 37 stocks and is ranked #63. Since the beginning of the year, the industry has moved +13.7%.
Investors interested in the Oils-Energy sector may want to keep a close eye on CVR Energy and HF Sinclair as they attempt to continue their solid performance.
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