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Is Continental Resources (CLR) Outperforming Other Oils-Energy Stocks This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Continental Resources (CLR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.

Continental Resources is a member of the Oils-Energy sector. This group includes 254 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. Continental Resources is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CLR's full-year earnings has moved 17% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the latest available data, CLR has gained about 172% so far this year. At the same time, Oils-Energy stocks have gained an average of 29.5%. This means that Continental Resources is outperforming the sector as a whole this year.

Another Oils-Energy stock, which has outperformed the sector so far this year, is MPLX LP (MPLX). The stock has returned 35.4% year-to-date.

The consensus estimate for MPLX LP's current year EPS has increased 2.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Continental Resources belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 43 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 101.6% this year, meaning that CLR is performing better in terms of year-to-date returns.

On the other hand, MPLX LP belongs to the Oil and Gas - Production and Pipelines industry. This 13-stock industry is currently ranked #102. The industry has moved +23.4% year to date.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Continental Resources and MPLX LP as they could maintain their solid performance.


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Zacks Investment Research