Is Suncor Energy (SU) Stock Outpacing Its Oils-Energy Peers This Year?
Investors focused on the Oils-Energy space have likely heard of Suncor Energy (SU), but is the stock performing well in comparison to the rest of its sector peers? 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.
Suncor Energy is a member of the Oils-Energy sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #5. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SU is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SU's full-year earnings has moved 122.11% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, SU has moved about 38.08% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 25.43% on average. This means that Suncor Energy is outperforming the sector as a whole this year.
Looking more specifically, SU belongs to the Oil and Gas - Integrated - Canadian industry, a group that includes 3 individual stocks and currently sits at #8 in the Zacks Industry Rank. This group has gained an average of 26.11% so far this year, so SU is performing better in this area.
Investors in the Oils-Energy sector will want to keep a close eye on SU as it attempts to continue its solid performance.
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