Is California Resources (CRC) Outperforming Other Oils-Energy Stocks This Year?

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is California Resources Corporation (CRC) 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.

California Resources Corporation is a member of the Oils-Energy sector. This group includes 234 individual stocks and currently holds a Zacks Sector Rank of #7. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. California Resources Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for CRC's full-year earnings has moved 69.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, CRC has returned 54% so far this year. In comparison, Oils-Energy companies have returned an average of 34.3%. This means that California Resources Corporation is performing better than its sector in terms of year-to-date returns.

Chevron (CVX) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 38.5%.

Over the past three months, Chevron's consensus EPS estimate for the current year has increased 12.6%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, California Resources Corporation belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 34 individual stocks and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have gained about 45.3% so far this year, so CRC is performing better this group in terms of year-to-date returns.

In contrast, Chevron falls under the Oil and Gas - Integrated - International industry. Currently, this industry has 16 stocks and is ranked #30. Since the beginning of the year, the industry has moved +40.3%.

California Resources Corporation and Chevron 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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This article originally published on Zacks Investment Research (zacks.com).

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