Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Constellation Energy Corporation (CEG) 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.
Constellation Energy Corporation is one of 249 companies in the Oils-Energy group. The Oils-Energy group currently sits at #13 within 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 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. Constellation Energy Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CEG’s full-year earnings has moved 3.2% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that CEG has returned about 85.8% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 6.3% on average. As we can see, Constellation Energy Corporation is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Cenovus Energy (CVE). The stock has returned 19.5% year-to-date.
The consensus estimate for Cenovus Energy’s current year EPS has increased 12.7% 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 43 individual companies and currently sits at #83 in the Zacks Industry Rank. Stocks in this group have gained about 34% so far this year, so CEG is performing better this group in terms of year-to-date returns.
Cenovus Energy, however, belongs to the Oil and Gas – Integrated – Canadian industry. Currently, this 5-stock industry is ranked #188. The industry has moved +19.2% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Constellation Energy Corporation and Cenovus Energy as they could maintain their solid performance.
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Constellation Energy Corporation (CEG) : Free Stock Analysis Report
Cenovus Energy Inc (CVE) : Free Stock Analysis Report