Are Oils-Energy Stocks Lagging Canadian Natural Resources Limited (CNQ) This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Canadian Natural Resources (CNQ) one of those stocks right now? 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.
Canadian Natural Resources is a member of our Oils-Energy group, which includes 256 different companies and currently sits at #1 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Canadian Natural Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CNQ's full-year earnings has moved 57.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CNQ has moved about 55.4% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 31.8% on average. As we can see, Canadian Natural Resources is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is DCP Midstream Partners, LP (DCP). The stock has returned 31.9% year-to-date.
For DCP Midstream Partners, LP, the consensus EPS estimate for the current year has increased 36.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Canadian Natural Resources belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 6 individual companies and currently sits at #26 in the Zacks Industry Rank. On average, stocks in this group have gained 55.9% this year, meaning that CNQ is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, DCP Midstream Partners, LP belongs to the Oil and Gas - Production and Pipelines industry. This 12-stock industry is currently ranked #33. The industry has moved +23.5% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Canadian Natural Resources and DCP Midstream Partners, LP as they attempt to continue their solid performance.
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