Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Canadian Natural Resources (CNQ) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Canadian Natural Resources is one of 244 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #9 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 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. Canadian Natural Resources is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CNQ's full-year earnings has moved 7.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CNQ has returned about 8.7% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 7.9%. This means that Canadian Natural Resources is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Natural Gas Services (NGS). The stock has returned 14.4% year-to-date.
For Natural Gas Services, the consensus EPS estimate for the current year has increased 9.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Canadian Natural Resources is a member of the Oil and Gas - Exploration and Production - Canadian industry, which includes 10 individual companies and currently sits at #152 in the Zacks Industry Rank. On average, stocks in this group have gained 7.8% this year, meaning that CNQ is performing better in terms of year-to-date returns.
In contrast, Natural Gas Services falls under the Oil and Gas - Mechanical and and Equipment industry. Currently, this industry has 13 stocks and is ranked #33. Since the beginning of the year, the industry has moved +10.8%.
Investors interested in the Oils-Energy sector may want to keep a close eye on Canadian Natural Resources and Natural Gas Services as they attempt to continue their solid performance.
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Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report Natural Gas Services Group, Inc. (NGS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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