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Is Constellation Energy Corporation (CEG) Stock Outpacing Its Oils-Energy Peers 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. Constellation Energy Corporation (CEG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Constellation Energy Corporation is one of 244 companies in the Oils-Energy group. The Oils-Energy group currently sits at #3 within 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. Constellation Energy Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CEG's full-year earnings has moved 12.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CEG has returned about 39.9% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of -1.3%. As we can see, Constellation Energy Corporation is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Civitas Resources (CIVI - Free Report) . The stock has returned 16.7% year-to-date.
The consensus estimate for Civitas Resources' current year EPS has increased 7.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Constellation Energy Corporation is a member of the Alternative Energy - Other industry, which includes 40 individual companies and currently sits at #136 in the Zacks Industry Rank. Stocks in this group have lost about 13.6% so far this year, so CEG is performing better this group in terms of year-to-date returns.
Civitas Resources, however, belongs to the Oil and Gas - Exploration and Production - United States industry. Currently, this 38-stock industry is ranked #30. The industry has moved -1.9% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Constellation Energy Corporation and Civitas Resources as they could maintain their solid performance.
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Is Constellation Energy Corporation (CEG) Stock Outpacing Its Oils-Energy Peers This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Constellation Energy Corporation (CEG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Constellation Energy Corporation is one of 244 companies in the Oils-Energy group. The Oils-Energy group currently sits at #3 within 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. Constellation Energy Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CEG's full-year earnings has moved 12.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CEG has returned about 39.9% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of -1.3%. As we can see, Constellation Energy Corporation is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Civitas Resources (CIVI - Free Report) . The stock has returned 16.7% year-to-date.
The consensus estimate for Civitas Resources' current year EPS has increased 7.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Constellation Energy Corporation is a member of the Alternative Energy - Other industry, which includes 40 individual companies and currently sits at #136 in the Zacks Industry Rank. Stocks in this group have lost about 13.6% so far this year, so CEG is performing better this group in terms of year-to-date returns.
Civitas Resources, however, belongs to the Oil and Gas - Exploration and Production - United States industry. Currently, this 38-stock industry is ranked #30. The industry has moved -1.9% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Constellation Energy Corporation and Civitas Resources as they could maintain their solid performance.