Yahoo Finance Has CVR Energy (CVI) Outpaced Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. CVR Energy (CVI) 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.
CVR Energy is one of 251 companies in the Oils-Energy group. The Oils-Energy group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. CVR Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CVI's full-year earnings has moved 2.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CVI has returned 23% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 11% on average. This means that CVR Energy is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, Saipem (SAPMF), has outperformed the sector so far this year. The stock's year-to-date return is 55.3%.
Over the past three months, Saipem's consensus EPS estimate for the current year has increased 14.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, CVR Energy is a member of the Oil and Gas - Refining and Marketing industry, which includes 15 individual companies and currently sits at #39 in the Zacks Industry Rank. On average, this group has gained an average of 14.8% so far this year, meaning that CVI is performing better in terms of year-to-date returns.
Saipem, however, belongs to the Oil and Gas - Drilling industry. Currently, this 12-stock industry is ranked #213. The industry has moved +7.7% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on CVR Energy and Saipem as they attempt to continue their solid performance.
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CVR Energy Inc. (CVI) : Free Stock Analysis Report
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