Investors focused on the Oils-Energy space have likely heard of Continental Resources (CLR), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Continental Resources is one of 253 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #11 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 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. CLR is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CLR's full-year earnings has moved 60.40% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CLR has returned about 171.29% since the start of the calendar year. At the same time, Oils-Energy stocks have gained an average of 25.85%. As we can see, Continental Resources is performing better than its sector in the calendar year.
To break things down more, CLR belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 45 individual companies and currently sits at #51 in the Zacks Industry Rank. On average, this group has gained an average of 91.60% so far this year, meaning that CLR is performing better in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track CLR. The stock will be looking to continue its solid performance.
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