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Has CNX Resources (CNX) Outpaced Other Oils-Energy Stocks This Year?

Zacks Equity Research
·2-min read

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has CNX Resources Corporation. (CNX) been one of those stocks this year? 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.

CNX Resources Corporation. is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. 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. CNX Resources Corporation. is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for CNX's full-year earnings has moved 50.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the most recent data, CNX has returned 28.7% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 25.2% on a year-to-date basis. This means that CNX Resources Corporation. is outperforming the sector as a whole this year.

One other Oils-Energy stock that has outperformed the sector so far this year is China Shenhua Energy Co. (CSUAY). The stock is up 35.3% year-to-date.

In China Shenhua Energy Co.'s case, the consensus EPS estimate for the current year increased 36.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, CNX Resources Corporation. belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 41 individual stocks and currently sits at #47 in the Zacks Industry Rank. On average, this group has gained an average of 38.3% so far this year, meaning that CNX is slightly underperforming its industry in terms of year-to-date returns.

In contrast, China Shenhua Energy Co. falls under the Coal industry. Currently, this industry has 9 stocks and is ranked #27. Since the beginning of the year, the industry has moved +69%.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to CNX Resources Corporation. and China Shenhua Energy Co. as they could maintain their solid performance.


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Zacks Investment Research