For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Marathon Petroleum (MPC) been one of those stocks this year? 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.
Marathon Petroleum is one of 244 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #6 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 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. Marathon Petroleum is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MPC's full-year earnings has moved 9.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MPC has moved about 24.7% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of -0.3% on a year-to-date basis. This shows that Marathon Petroleum is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Oceaneering International (OII). The stock has returned 23.2% year-to-date.
The consensus estimate for Oceaneering International's current year EPS has increased 5.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Marathon Petroleum belongs to the Oil and Gas - Refining and Marketing industry, a group that includes 15 individual stocks and currently sits at #34 in the Zacks Industry Rank. This group has gained an average of 6.2% so far this year, so MPC is performing better in this area.
On the other hand, Oceaneering International belongs to the Oil and Gas - Field Services industry. This 22-stock industry is currently ranked #168. The industry has moved +8.7% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Marathon Petroleum and Oceaneering International as they attempt to continue their solid performance.
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