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Is Ecopetrol (EC) Stock Outpacing Its Oils-Energy Peers This Year?

Zacks Equity Research
Updated
Abbott (ABT) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Ecopetrol (EC) 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.

Ecopetrol is one of 322 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. EC is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for EC's full-year earnings has moved 33.76% higher. 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, EC has gained about 50.44% so far this year. At the same time, Oils-Energy stocks have gained an average of 2.54%. As we can see, Ecopetrol is performing better than its sector in the calendar year.

Looking more specifically, EC belongs to the Oil and Gas - Integrated - Emerging Markets industry, a group that includes 3 individual stocks and currently sits at #20 in the Zacks Industry Rank. On average, stocks in this group have gained 21.17% this year, meaning that EC is performing better in terms of year-to-date returns.

EC will likely be looking to continue its solid performance, so investors interested Oils-Energy stocks should continue to pay close attention to the company.


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