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Has Centennial Resource Development (CDEV) Outpaced Other Oils-Energy Stocks This Year?
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Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Centennial Resource 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.
Centennial Resource is a member of the Oils-Energy sector. This group includes 256 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Centennial Resource is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CDEV's full-year earnings has moved 45.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CDEV has gained about 42.5% so far this year. In comparison, Oils-Energy companies have returned an average of 39.7%. This means that Centennial Resource is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Matador Resources (MTDR - Free Report) . The stock has returned 71.3% year-to-date.
The consensus estimate for Matador Resources' current year EPS has increased 47.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Centennial Resource belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 41 individual stocks and currently sits at #4 in the Zacks Industry Rank. On average, stocks in this group have gained 65.1% this year, meaning that CDEV is slightly underperforming its industry in terms of year-to-date returns. Matador Resources is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Centennial Resource and Matador Resources as they could maintain their solid performance.
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Has Centennial Resource Development (CDEV) Outpaced Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Centennial Resource 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.
Centennial Resource is a member of the Oils-Energy sector. This group includes 256 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Centennial Resource is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CDEV's full-year earnings has moved 45.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CDEV has gained about 42.5% so far this year. In comparison, Oils-Energy companies have returned an average of 39.7%. This means that Centennial Resource is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Matador Resources (MTDR - Free Report) . The stock has returned 71.3% year-to-date.
The consensus estimate for Matador Resources' current year EPS has increased 47.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Centennial Resource belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 41 individual stocks and currently sits at #4 in the Zacks Industry Rank. On average, stocks in this group have gained 65.1% this year, meaning that CDEV is slightly underperforming its industry in terms of year-to-date returns. Matador Resources is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Centennial Resource and Matador Resources as they could maintain their solid performance.