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Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Clearway Energy (CWENA) 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.
Clearway Energy is a member of the Oils-Energy sector. This group includes 247 individual stocks and currently holds a Zacks Sector Rank of #9. 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 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. Clearway Energy is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CWENA's full-year earnings has moved 1.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CWENA has returned 16.3% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 4% on a year-to-date basis. This means that Clearway Energy 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 Kolibri Global Energy Inc. (KGEI). The stock is up 56.6% year-to-date.
Over the past three months, Kolibri Global Energy Inc.'s consensus EPS estimate for the current year has increased 38.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Clearway Energy belongs to the Alternative Energy - Other industry, a group that includes 47 individual stocks and currently sits at #125 in the Zacks Industry Rank. Stocks in this group have lost about 1.9% so far this year, so CWENA is performing better this group in terms of year-to-date returns. Kolibri Global Energy Inc. is also part of the same industry.
Investors with an interest in Oils-Energy stocks should continue to track Clearway Energy and Kolibri Global Energy Inc. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).