The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is BP (BP) one of those stocks right now? 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.
BP 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 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. BP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BP's full-year earnings has moved 15.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, BP has moved about 31.9% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 31.8%. This shows that BP is outperforming its peers so far this year.
Another stock in the Oils-Energy sector, PetroChina (PTR), has outperformed the sector so far this year. The stock's year-to-date return is 45.8%.
The consensus estimate for PetroChina's current year EPS has increased 6.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, BP is a member of the Oil and Gas - Integrated - International industry, which includes 16 individual companies and currently sits at #67 in the Zacks Industry Rank. On average, this group has gained an average of 42.6% so far this year, meaning that BP is slightly underperforming its industry in terms of year-to-date returns. PetroChina is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to BP and PetroChina as they could maintain their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
BP p.l.c. (BP) : Free Stock Analysis Report
PetroChina Company Limited (PTR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research