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Is Canadian Natural Resources (CNQ) Stock Outpacing Its Oils-Energy Peers This Year?
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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 Canadian Natural Resources (CNQ - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Canadian Natural Resources is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #2 within the Zacks Sector Rank. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Canadian Natural Resources is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CNQ's full-year earnings has moved 31.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CNQ has returned 36.9% so far this year. At the same time, Oils-Energy stocks have gained an average of 19%. This means that Canadian Natural Resources is performing better than its sector in terms of year-to-date returns.
One other Oils-Energy stock that has outperformed the sector so far this year is HighPeak Energy, Inc. (HPK - Free Report) . The stock is up 25.1% year-to-date.
For HighPeak Energy, Inc. the consensus EPS estimate for the current year has increased 16.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Canadian Natural Resources belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 6 individual stocks and currently sits at #40 in the Zacks Industry Rank. On average, this group has gained an average of 34.4% so far this year, meaning that CNQ is performing better in terms of year-to-date returns.
In contrast, HighPeak Energy, Inc. falls under the Oil and Gas - Exploration and Production - United States industry. Currently, this industry has 41 stocks and is ranked #55. Since the beginning of the year, the industry has moved +26.2%.
Investors interested in the Oils-Energy sector may want to keep a close eye on Canadian Natural Resources and HighPeak Energy, Inc. as they attempt to continue their solid performance.
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Is Canadian Natural Resources (CNQ) Stock Outpacing Its Oils-Energy Peers This Year?
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 Canadian Natural Resources (CNQ - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Canadian Natural Resources is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #2 within the Zacks Sector Rank. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Canadian Natural Resources is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CNQ's full-year earnings has moved 31.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CNQ has returned 36.9% so far this year. At the same time, Oils-Energy stocks have gained an average of 19%. This means that Canadian Natural Resources is performing better than its sector in terms of year-to-date returns.
One other Oils-Energy stock that has outperformed the sector so far this year is HighPeak Energy, Inc. (HPK - Free Report) . The stock is up 25.1% year-to-date.
For HighPeak Energy, Inc. the consensus EPS estimate for the current year has increased 16.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Canadian Natural Resources belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 6 individual stocks and currently sits at #40 in the Zacks Industry Rank. On average, this group has gained an average of 34.4% so far this year, meaning that CNQ is performing better in terms of year-to-date returns.
In contrast, HighPeak Energy, Inc. falls under the Oil and Gas - Exploration and Production - United States industry. Currently, this industry has 41 stocks and is ranked #55. Since the beginning of the year, the industry has moved +26.2%.
Investors interested in the Oils-Energy sector may want to keep a close eye on Canadian Natural Resources and HighPeak Energy, Inc. as they attempt to continue their solid performance.