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 Continental Resources (CLR - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Continental Resources is one of 331 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #4 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. CLR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CLR's full-year earnings has moved 26.04% 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, CLR has returned 24.18% so far this year. In comparison, Oils-Energy companies have returned an average of 7.76%. This means that Continental Resources is outperforming the sector as a whole this year.
Looking more specifically, CLR belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 74 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, this group has gained an average of 3.27% so far this year, meaning that CLR is performing better in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track CLR. The stock will be looking to continue its solid performance.