Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is California Resources Corporation (CRC) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
California Resources Corporation is one of 240 companies in the Oils-Energy group. The Oils-Energy group currently sits at #14 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. California Resources Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CRC's full-year earnings has moved 16.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CRC has moved about 8.6% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 4.5% on average. This means that California Resources Corporation is performing better than its sector in terms of year-to-date returns.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Eni SpA (E). The stock has returned 28% year-to-date.
The consensus estimate for Eni SpA's current year EPS has increased 10.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, California Resources Corporation belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 36 individual companies and currently sits at #179 in the Zacks Industry Rank. This group has lost an average of 22.9% so far this year, so CRC is performing better in this area.
Eni SpA, however, belongs to the Oil and Gas - Integrated - International industry. Currently, this 16-stock industry is ranked #93. The industry has moved +5.7% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track California Resources Corporation and Eni SpA. These stocks will be looking to continue their solid performance.
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California Resources Corporation (CRC): Free Stock Analysis Report Eni SpA (E): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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