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Is Phillips 66 (PSX) Stock Outpacing Its Oils-Energy Peers This Year?
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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Phillips 66 (PSX - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Phillips 66 is one of 247 companies in the Oils-Energy group. The Oils-Energy group currently sits at #5 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Phillips 66 is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PSX's full-year earnings has moved 23.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that PSX has returned about 39.3% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 34.4% on average. This means that Phillips 66 is performing better than its sector in terms of year-to-date returns.
Patterson-UTI (PTEN - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 85.7%.
In Patterson-UTI's case, the consensus EPS estimate for the current year increased 50.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Phillips 66 belongs to the Oil and Gas - Refining and Marketing industry, which includes 16 individual stocks and currently sits at #48 in the Zacks Industry Rank. Stocks in this group have gained about 40.3% so far this year, so PSX is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Patterson-UTI falls under the Oil and Gas - Drilling industry. Currently, this industry has 7 stocks and is ranked #13. Since the beginning of the year, the industry has moved +52.3%.
Investors with an interest in Oils-Energy stocks should continue to track Phillips 66 and Patterson-UTI. These stocks will be looking to continue their solid performance.
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Is Phillips 66 (PSX) Stock Outpacing Its Oils-Energy Peers This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Phillips 66 (PSX - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Phillips 66 is one of 247 companies in the Oils-Energy group. The Oils-Energy group currently sits at #5 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Phillips 66 is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PSX's full-year earnings has moved 23.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that PSX has returned about 39.3% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 34.4% on average. This means that Phillips 66 is performing better than its sector in terms of year-to-date returns.
Patterson-UTI (PTEN - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 85.7%.
In Patterson-UTI's case, the consensus EPS estimate for the current year increased 50.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Phillips 66 belongs to the Oil and Gas - Refining and Marketing industry, which includes 16 individual stocks and currently sits at #48 in the Zacks Industry Rank. Stocks in this group have gained about 40.3% so far this year, so PSX is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Patterson-UTI falls under the Oil and Gas - Drilling industry. Currently, this industry has 7 stocks and is ranked #13. Since the beginning of the year, the industry has moved +52.3%.
Investors with an interest in Oils-Energy stocks should continue to track Phillips 66 and Patterson-UTI. These stocks will be looking to continue their solid performance.