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Is Paramount Resources (PRMRF) 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. Has Paramount Resources (PRMRF - Free Report) 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.
Paramount Resources is a member of our Oils-Energy group, which includes 254 different companies and currently sits at #2 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 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. Paramount Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PRMRF's full-year earnings has moved 19.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PRMRF has returned 40.9% so far this year. In comparison, Oils-Energy companies have returned an average of 40.9%.
Another stock in the Oils-Energy sector, CVR Energy (CVI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 124.3%.
The consensus estimate for CVR Energy's current year EPS has increased 2528.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Paramount Resources belongs to the Oil and Gas - Exploration and Production - Canadian industry, which includes 7 individual stocks and currently sits at #4 in the Zacks Industry Rank. Stocks in this group have gained about 68.5% so far this year, so PRMRF is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, CVR Energy falls under the Oil and Gas - Refining and Marketing industry. Currently, this industry has 15 stocks and is ranked #6. Since the beginning of the year, the industry has moved +141.4%.
Investors with an interest in Oils-Energy stocks should continue to track Paramount Resources and CVR Energy. These stocks will be looking to continue their solid performance.
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Is Paramount Resources (PRMRF) 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. Has Paramount Resources (PRMRF - Free Report) 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.
Paramount Resources is a member of our Oils-Energy group, which includes 254 different companies and currently sits at #2 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 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. Paramount Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PRMRF's full-year earnings has moved 19.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PRMRF has returned 40.9% so far this year. In comparison, Oils-Energy companies have returned an average of 40.9%.
Another stock in the Oils-Energy sector, CVR Energy (CVI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 124.3%.
The consensus estimate for CVR Energy's current year EPS has increased 2528.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Paramount Resources belongs to the Oil and Gas - Exploration and Production - Canadian industry, which includes 7 individual stocks and currently sits at #4 in the Zacks Industry Rank. Stocks in this group have gained about 68.5% so far this year, so PRMRF is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, CVR Energy falls under the Oil and Gas - Refining and Marketing industry. Currently, this industry has 15 stocks and is ranked #6. Since the beginning of the year, the industry has moved +141.4%.
Investors with an interest in Oils-Energy stocks should continue to track Paramount Resources and CVR Energy. These stocks will be looking to continue their solid performance.