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Are Oils-Energy Stocks Lagging CVR Energy (CVI) This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is CVR Energy (CVI - 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.
CVR Energy is a member of our Oils-Energy group, which includes 248 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CVR Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CVI's full-year earnings has moved 9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CVI has moved about 0.8% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have lost about 1.1% on average. This shows that CVR Energy is outperforming its peers so far this year.
Valero Energy (VLO - 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 4.6%.
In Valero Energy's case, the consensus EPS estimate for the current year increased 13.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, CVR Energy belongs to the Oil and Gas - Refining and Marketing industry, a group that includes 16 individual companies and currently sits at #14 in the Zacks Industry Rank. Stocks in this group have lost about 0.9% so far this year, so CVI is performing better this group in terms of year-to-date returns. Valero Energy is also part of the same industry.
CVR Energy and Valero Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.