Yahoo Finance Are Oils-Energy Stocks Lagging Constellation Energy Corporation (CEG) This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Constellation Energy Corporation (CEG) 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 251 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Constellation Energy Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CEG's full-year earnings has moved 11.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CEG has gained about 60.9% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 10.7% on a year-to-date basis. This means that Constellation Energy Corporation is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Helmerich & Payne (HP). The stock has returned 19% year-to-date.
For Helmerich & Payne, the consensus EPS estimate for the current year has increased 15.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Constellation Energy Corporation belongs to the Alternative Energy - Other industry, a group that includes 42 individual companies and currently sits at #90 in the Zacks Industry Rank. This group has gained an average of 6.9% so far this year, so CEG is performing better in this area.
Helmerich & Payne, however, belongs to the Oil and Gas - Drilling industry. Currently, this 12-stock industry is ranked #205. The industry has moved +7.6% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Constellation Energy Corporation and Helmerich & Payne as they could maintain their solid performance.
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