Has CVR Energy (CVI) Outpaced Other Oils-Energy Stocks 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 CVR Energy (CVI) 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.

CVR Energy is one of 257 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in 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. CVR Energy is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CVI's full-year earnings has moved 170.6% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that CVI has returned about 45.6% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 21.7% on a year-to-date basis. This means that CVR Energy is outperforming the sector as a whole this year.

One other Oils-Energy stock that has outperformed the sector so far this year is Crescent Point Energy (CPG). The stock is up 25.5% year-to-date.

In Crescent Point Energy's case, the consensus EPS estimate for the current year increased 6.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, CVR Energy belongs to the Oil and Gas - Refining and Marketing industry, a group that includes 14 individual companies and currently sits at #23 in the Zacks Industry Rank. This group has gained an average of 28.1% so far this year, so CVI is performing better in this area.

In contrast, Crescent Point Energy falls under the Oil and Gas - Exploration and Production - Canadian industry. Currently, this industry has 6 stocks and is ranked #14. Since the beginning of the year, the industry has moved +43.9%.

Investors interested in the Oils-Energy sector may want to keep a close eye on CVR Energy and Crescent Point Energy as they attempt to continue their solid performance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.