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Has Canadian Natural Resources (CNQ) Outpaced Other Oils-Energy Stocks 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 Canadian Natural Resources (CNQ - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Canadian Natural Resources is a member of our Oils-Energy group, which includes 255 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 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. Canadian Natural Resources is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for CNQ's full-year earnings has moved 7.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that CNQ has returned about 76.3% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 35.5% on a year-to-date basis. This means that Canadian Natural Resources is outperforming the sector as a whole this year.

Another Oils-Energy stock, which has outperformed the sector so far this year, is Comstock Resources (CRK - Free Report) . The stock has returned 97.5% year-to-date.

For Comstock Resources, the consensus EPS estimate for the current year has increased 27.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Canadian Natural Resources is a member of the Oil and Gas - Exploration and Production - Canadian industry, which includes 5 individual companies and currently sits at #7 in the Zacks Industry Rank. On average, stocks in this group have gained 85.9% this year, meaning that CNQ is slightly underperforming its industry in terms of year-to-date returns.

On the other hand, Comstock Resources belongs to the Oil and Gas - Exploration and Production - United States industry. This 43-stock industry is currently ranked #15. The industry has moved +113.7% year to date.

Canadian Natural Resources and Comstock Resources 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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