The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Constellation Energy Corporation (CEG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Constellation Energy Corporation is one of 246 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 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).
Over the past 90 days, the Zacks Consensus Estimate for CEG's full-year earnings has moved 2.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CEG has returned about 21% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of -5.8%. This means that Constellation Energy Corporation is performing better than its sector in terms of year-to-date returns.
Veren (VRN) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16.9%.
The consensus estimate for Veren's current year EPS has increased 28.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Constellation Energy Corporation belongs to the Alternative Energy - Other industry, which includes 44 individual stocks and currently sits at #146 in the Zacks Industry Rank. On average, this group has gained an average of 7.6% so far this year, meaning that CEG is performing better in terms of year-to-date returns.
Veren, however, belongs to the Oil and Gas - Integrated - Canadian industry. Currently, this 5-stock industry is ranked #50. The industry has moved -7.6% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Constellation Energy Corporation and Veren. These stocks will be looking to continue their solid performance.
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Constellation Energy Corporation (CEG): Free Stock Analysis Report Veren Inc. (VRN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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