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Is Canadian Natural Resources Limited (CNQ) 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. Is Canadian Natural Resources (CNQ - Free Report) one of those stocks right now? 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.
Canadian Natural Resources is one of 255 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Canadian Natural Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CNQ's full-year earnings has moved 9.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CNQ has returned 46.7% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 28.3% on average. This means that Canadian Natural Resources is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Imperial Oil (IMO - Free Report) . The stock is up 47.7% year-to-date.
Over the past three months, Imperial Oil's consensus EPS estimate for the current year has increased 18.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Canadian Natural Resources belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 7 individual companies and currently sits at #7 in the Zacks Industry Rank. On average, stocks in this group have gained 51.5% this year, meaning that CNQ is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Imperial Oil belongs to the Oil and Gas - Integrated - Canadian industry. This 4-stock industry is currently ranked #4. The industry has moved +65% year to date.
Canadian Natural Resources and Imperial Oil could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
View the Zacks #1 Rank List
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Is Canadian Natural Resources Limited (CNQ) 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. Is Canadian Natural Resources (CNQ - Free Report) one of those stocks right now? 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.
Canadian Natural Resources is one of 255 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Canadian Natural Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CNQ's full-year earnings has moved 9.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CNQ has returned 46.7% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 28.3% on average. This means that Canadian Natural Resources is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Imperial Oil (IMO - Free Report) . The stock is up 47.7% year-to-date.
Over the past three months, Imperial Oil's consensus EPS estimate for the current year has increased 18.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Canadian Natural Resources belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 7 individual companies and currently sits at #7 in the Zacks Industry Rank. On average, stocks in this group have gained 51.5% this year, meaning that CNQ is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Imperial Oil belongs to the Oil and Gas - Integrated - Canadian industry. This 4-stock industry is currently ranked #4. The industry has moved +65% year to date.
Canadian Natural Resources and Imperial Oil could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.