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Is Constellation Energy Corporation (CEG) Stock Outpacing Its Oils-Energy Peers 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. 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 248 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #15 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. Constellation Energy Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for CEG's full-year earnings has moved 6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, CEG has gained about 83.6% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 5.7% on a year-to-date basis. This means that Constellation Energy Corporation is performing better than its sector in terms of year-to-date returns.

One other Oils-Energy stock that has outperformed the sector so far this year is NextDecade (NEXT - Free Report) . The stock is up 63.9% year-to-date.

For NextDecade, the consensus EPS estimate for the current year has increased 38.8% 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 42 individual companies and currently sits at #84 in the Zacks Industry Rank. This group has gained an average of 32.6% so far this year, so CEG is performing better in this area.

In contrast, NextDecade falls under the Oil and Gas - Production Pipeline - MLB industry. Currently, this industry has 6 stocks and is ranked #92. Since the beginning of the year, the industry has moved +10.7%.

Investors interested in the Oils-Energy sector may want to keep a close eye on Constellation Energy Corporation and NextDecade as they attempt to continue their solid performance.

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