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Is Chord Energy Corporation (CHRD) 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. Chord Energy Corporation (CHRD - 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? 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.
Chord Energy Corporation is a member of our Oils-Energy group, which includes 251 different companies and currently sits at #7 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 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. Chord Energy Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CHRD's full-year earnings has moved 7.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CHRD has gained about 10.4% so far this year. At the same time, Oils-Energy stocks have gained an average of 10.2%. This means that Chord Energy Corporation is performing better than its sector in terms of year-to-date returns.
Pioneer Natural Resources (PXD - 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 22.5%.
For Pioneer Natural Resources, the consensus EPS estimate for the current year has increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Chord Energy Corporation is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 37 individual companies and currently sits at #152 in the Zacks Industry Rank. Stocks in this group have gained about 12.9% so far this year, so CHRD is slightly underperforming its industry this group in terms of year-to-date returns. Pioneer Natural Resources is also part of the same industry.
Investors with an interest in Oils-Energy stocks should continue to track Chord Energy Corporation and Pioneer Natural Resources. These stocks will be looking to continue their solid performance.
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Is Chord Energy Corporation (CHRD) 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. Chord Energy Corporation (CHRD - 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? 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.
Chord Energy Corporation is a member of our Oils-Energy group, which includes 251 different companies and currently sits at #7 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 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. Chord Energy Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CHRD's full-year earnings has moved 7.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CHRD has gained about 10.4% so far this year. At the same time, Oils-Energy stocks have gained an average of 10.2%. This means that Chord Energy Corporation is performing better than its sector in terms of year-to-date returns.
Pioneer Natural Resources (PXD - 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 22.5%.
For Pioneer Natural Resources, the consensus EPS estimate for the current year has increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Chord Energy Corporation is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 37 individual companies and currently sits at #152 in the Zacks Industry Rank. Stocks in this group have gained about 12.9% so far this year, so CHRD is slightly underperforming its industry this group in terms of year-to-date returns. Pioneer Natural Resources is also part of the same industry.
Investors with an interest in Oils-Energy stocks should continue to track Chord Energy Corporation and Pioneer Natural Resources. These stocks will be looking to continue their solid performance.