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Is Earthstone Energy (ESTE) Outperforming Other Oils-Energy Stocks This Year?

Zacks Equity Research
·2 min read

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Earthstone Energy (ESTE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Earthstone Energy is one of 254 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #2 in 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Earthstone Energy is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for ESTE's full-year earnings has moved 10.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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According to our latest data, ESTE has moved about 33.5% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 28.1%. This shows that Earthstone Energy is outperforming its peers so far this year.

Another stock in the Oils-Energy sector, Cenovus Energy (CVE), has outperformed the sector so far this year. The stock's year-to-date return is 44.3%.

In Cenovus Energy's case, the consensus EPS estimate for the current year increased 27.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Earthstone Energy is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 40 individual companies and currently sits at #129 in the Zacks Industry Rank. On average, stocks in this group have gained 40.3% this year, meaning that ESTE is slightly underperforming its industry in terms of year-to-date returns.

In contrast, Cenovus Energy falls under the Oil and Gas - Integrated - Canadian industry. Currently, this industry has 4 stocks and is ranked #3. Since the beginning of the year, the industry has moved +35.7%.

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


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Earthstone Energy, Inc. (ESTE) : Free Stock Analysis Report
 
Cenovus Energy Inc (CVE) : Free Stock Analysis Report
 
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