Investors focused on the Oils-Energy space have likely heard of Cairn Energy (CRNCY Quick QuoteCRNCY - Free Report) , 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.

Cairn Energy is a member of our Oils-Energy group, which includes 330 different companies and currently sits at #1 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. CRNCY is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for CRNCY's full-year earnings has moved 84.78% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, CRNCY has moved about 9.98% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 4.84% on average. This means that Cairn Energy is outperforming the sector as a whole this year.

Looking more specifically, CRNCY belongs to the Oil and Gas - Exploration and Production - International industry, which includes 14 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, this group has gained an average of 7.26% so far this year, meaning that CRNCY is performing better in terms of year-to-date returns.

CRNCY will likely be looking to continue its solid performance, so investors interested Oils-Energy stocks should continue to pay close attention to the company.