For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Cameco (CCJ) been one of those stocks this year? 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.
Cameco is a member of the Oils-Energy sector. This group includes 234 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Cameco is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CCJ's full-year earnings has moved 27.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CCJ has moved about 23.4% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 16.6% on average. This means that Cameco is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Ultrapar Participacoes S.A. (UGP). The stock is up 36.6% year-to-date.
For Ultrapar Participacoes S.A., the consensus EPS estimate for the current year has increased 3.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cameco is a member of the Alternative Energy - Other industry, which includes 46 individual companies and currently sits at #173 in the Zacks Industry Rank. This group has gained an average of 15.1% so far this year, so CCJ is performing better in this area.
On the other hand, Ultrapar Participacoes S.A. belongs to the Oil and Gas - Production and Pipelines industry. This 10-stock industry is currently ranked #90. The industry has moved +12.7% year to date.
Cameco and Ultrapar Participacoes S.A. could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cameco Corporation (CCJ): Free Stock Analysis Report Ultrapar Participacoes S.A. (UGP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
