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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. Is Crescent Energy (CRGY) one of those stocks right now? 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.
Crescent Energy is a member of our Oils-Energy group, which includes 248 different companies and currently sits at #7 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 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. Crescent Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CRGY's full-year earnings has moved 46.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CRGY has moved about 10.6% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 9.5% on a year-to-date basis. As we can see, Crescent Energy is performing better than its sector in the calendar year.
Kodiak Gas Services (KGS) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 19.6%.
The consensus estimate for Kodiak Gas Services' current year EPS has increased 2.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Crescent Energy is a member of the Alternative Energy - Other industry, which includes 46 individual companies and currently sits at #42 in the Zacks Industry Rank. This group has gained an average of 86.9% so far this year, so CRGY is slightly underperforming its industry in this area.
On the other hand, Kodiak Gas Services belongs to the Oil and Gas - Mechanical and and Equipment industry. This 10-stock industry is currently ranked #70. The industry has moved +16.9% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Crescent Energy and Kodiak Gas Services as they attempt to continue their solid performance.
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