Are Oils-Energy Stocks Lagging CVR Energy (CVI) This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is CVR Energy (CVI) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
CVR Energy is one of 245 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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).
The Zacks Consensus Estimate for CVI's full-year earnings has moved 50% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CVI has returned about 10.7% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 5.3% on a year-to-date basis. As we can see, CVR Energy is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Evolution Petroleum (EPM). The stock has returned 18.5% year-to-date.
In Evolution Petroleum's case, the consensus EPS estimate for the current year increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CVR Energy belongs to the Oil and Gas - Refining and Marketing industry, which includes 15 individual stocks and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 5.3% so far this year, meaning that CVI is performing better in terms of year-to-date returns.
On the other hand, Evolution Petroleum belongs to the Oil and Gas - Exploration and Production - United States industry. This 40-stock industry is currently ranked #206. The industry has moved +6.8% year to date.
Investors with an interest in Oils-Energy stocks should continue to track CVR Energy and Evolution Petroleum. These stocks will be looking to continue their solid performance.
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CVR Energy Inc. (CVI) : Free Stock Analysis Report
Evolution Petroleum Corporation, Inc. (EPM) : Free Stock Analysis Report
