Is Denbury (DEN) Stock Outpacing Its Oils-Energy Peers This Year?
Here is how Denbury (DEN) and EOG Resources (EOG) have performed compared to their sector so far this year.
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Denbury (DEN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Denbury is a member of our Oils-Energy group, which includes 255 different companies and currently sits at #1 in 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 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. Denbury is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DEN's full-year earnings has moved 11.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DEN has returned 223.7% so far this year. In comparison, Oils-Energy companies have returned an average of 36.4%. This means that Denbury is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, EOG Resources (EOG), has outperformed the sector so far this year. The stock's year-to-date return is 86.6%.
Over the past three months, EOG Resources' consensus EPS estimate for the current year has increased 15.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Denbury belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 43 individual companies and currently sits at #16 in the Zacks Industry Rank. This group has gained an average of 117% so far this year, so DEN is performing better in this area. EOG Resources is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Denbury and EOG Resources as they could maintain their solid performance.
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