Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Constellation Energy Corporation (CEG) 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.
Constellation Energy Corporation is one of 245 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #16 in 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 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. 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 1.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CEG has gained about 33% so far this year. At the same time, Oils-Energy stocks have lost an average of 4.2%. As we can see, Constellation Energy Corporation is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Flotek Industries (FTK), has outperformed the sector so far this year. The stock's year-to-date return is 56.1%.
In Flotek Industries' case, the consensus EPS estimate for the current year increased 22.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Constellation Energy Corporation belongs to the Alternative Energy - Other industry, which includes 44 individual stocks and currently sits at #155 in the Zacks Industry Rank. On average, stocks in this group have gained 16.1% this year, meaning that CEG is performing better in terms of year-to-date returns.
Flotek Industries, however, belongs to the Oil and Gas - Field Services industry. Currently, this 23-stock industry is ranked #151. The industry has moved -15.4% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Constellation Energy Corporation and Flotek Industries as they could maintain their solid performance.
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Constellation Energy Corporation (CEG): Free Stock Analysis Report Flotek Industries, Inc. (FTK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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