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Has Cenovus Energy (CVE) Outpaced Other Oils-Energy Stocks This Year?

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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Cenovus Energy (CVE - Free Report) one of those stocks right now? 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.

Cenovus Energy is a member of the Oils-Energy sector. This group includes 258 individual stocks and currently holds a Zacks Sector Rank of #3. 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. Cenovus Energy is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for CVE's full-year earnings has moved 35.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, CVE has gained about 35.8% so far this year. In comparison, Oils-Energy companies have returned an average of 27.1%. This shows that Cenovus Energy is outperforming its peers so far this year.

Another stock in the Oils-Energy sector, Helmerich & Payne (HP - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 80.5%.

Over the past three months, Helmerich & Payne's consensus EPS estimate for the current year has increased 20.1%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Cenovus Energy is a member of the Oil and Gas - Integrated - Canadian industry, which includes 3 individual companies and currently sits at #3 in the Zacks Industry Rank. This group has gained an average of 33.4% so far this year, so CVE is performing better in this area.

In contrast, Helmerich & Payne falls under the Oil and Gas - Drilling industry. Currently, this industry has 7 stocks and is ranked #64. Since the beginning of the year, the industry has moved +66.7%.

Investors with an interest in Oils-Energy stocks should continue to track Cenovus Energy and Helmerich & Payne. These stocks will be looking to continue their solid performance.


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