The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Crescent Energy (CRGY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Crescent Energy is a member of the Oils-Energy sector. This group includes 250 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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. Crescent Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CRGY's full-year earnings has moved 10.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CRGY has returned 5.2% so far this year. At the same time, Oils-Energy stocks have gained an average of 4.9%. This means that Crescent Energy is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, Kodiak Gas Services (KGS), has outperformed the sector so far this year. The stock's year-to-date return is 6.7%.
The consensus estimate for Kodiak Gas Services' current year EPS has increased 7.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Crescent Energy belongs to the Alternative Energy - Other industry, which includes 46 individual stocks and currently sits at #82 in the Zacks Industry Rank. Stocks in this group have gained about 69.4% so far this year, so CRGY is slightly underperforming its industry this group in terms of year-to-date returns.
Kodiak Gas Services, however, belongs to the Oil and Gas - Mechanical and and Equipment industry. Currently, this 10-stock industry is ranked #87. The industry has moved +14% so far this year.
Crescent Energy and Kodiak Gas Services could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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