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Is Calumet Specialty Products Partners, L.P. (CLMT) Stock Outpacing Its Oils-Energy Peers This Year?
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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Calumet Specialty Products Partners, L.P. (CLMT - Free Report) been one of those stocks this year? 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.
Calumet Specialty Products Partners, L.P. is a member of our Oils-Energy group, which includes 256 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Calumet Specialty Products Partners, L.P. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CLMT's full-year earnings has moved 238.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CLMT has gained about 9.8% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 5.5% on average. This shows that Calumet Specialty Products Partners, L.P. is outperforming its peers so far this year.
CVR Energy (CVI - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 12.7%.
Over the past three months, CVR Energy's consensus EPS estimate for the current year has increased 107.4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Calumet Specialty Products Partners, L.P. is a member of the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, which includes 11 individual companies and currently sits at #10 in the Zacks Industry Rank. On average, this group has gained an average of 6.7% so far this year, meaning that CLMT is performing better in terms of year-to-date returns.
CVR Energy, however, belongs to the Oil and Gas - Refining and Marketing industry. Currently, this 14-stock industry is ranked #76. The industry has moved +8.5% so far this year.
Calumet Specialty Products Partners, L.P. and CVR Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Is Calumet Specialty Products Partners, L.P. (CLMT) Stock Outpacing Its Oils-Energy Peers 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. Has Calumet Specialty Products Partners, L.P. (CLMT - Free Report) been one of those stocks this year? 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.
Calumet Specialty Products Partners, L.P. is a member of our Oils-Energy group, which includes 256 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Calumet Specialty Products Partners, L.P. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CLMT's full-year earnings has moved 238.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CLMT has gained about 9.8% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 5.5% on average. This shows that Calumet Specialty Products Partners, L.P. is outperforming its peers so far this year.
CVR Energy (CVI - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 12.7%.
Over the past three months, CVR Energy's consensus EPS estimate for the current year has increased 107.4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Calumet Specialty Products Partners, L.P. is a member of the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, which includes 11 individual companies and currently sits at #10 in the Zacks Industry Rank. On average, this group has gained an average of 6.7% so far this year, meaning that CLMT is performing better in terms of year-to-date returns.
CVR Energy, however, belongs to the Oil and Gas - Refining and Marketing industry. Currently, this 14-stock industry is ranked #76. The industry has moved +8.5% so far this year.
Calumet Specialty Products Partners, L.P. and CVR Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.