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Is Continental Resources (CLR) 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 Continental Resources been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Continental Resources is one of 254 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in 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 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. Continental Resources is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CLR's full-year earnings has moved 16% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CLR has returned 48% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 18.7% on average. This means that Continental Resources is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is CVR Energy (CVI - Free Report) . The stock has returned 84.9% year-to-date.
For CVR Energy, the consensus EPS estimate for the current year has increased 295.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Continental Resources belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 40 individual stocks and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 28.7% so far this year, meaning that CLR is performing better in terms of year-to-date returns.
On the other hand, CVR Energy belongs to the Oil and Gas - Refining and Marketing industry. This 16-stock industry is currently ranked #3. The industry has moved +22.9% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Continental Resources and CVR Energy as they attempt to continue their solid performance.
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Is Continental Resources (CLR) 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 Continental Resources been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Continental Resources is one of 254 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in 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 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. Continental Resources is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CLR's full-year earnings has moved 16% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CLR has returned 48% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 18.7% on average. This means that Continental Resources is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is CVR Energy (CVI - Free Report) . The stock has returned 84.9% year-to-date.
For CVR Energy, the consensus EPS estimate for the current year has increased 295.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Continental Resources belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 40 individual stocks and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 28.7% so far this year, meaning that CLR is performing better in terms of year-to-date returns.
On the other hand, CVR Energy belongs to the Oil and Gas - Refining and Marketing industry. This 16-stock industry is currently ranked #3. The industry has moved +22.9% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Continental Resources and CVR Energy as they attempt to continue their solid performance.