For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is BP (BP - Free Report) one of those stocks right now? 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.
BP is one of 251 companies in the Oils-Energy group. The Oils-Energy group currently sits at #7 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 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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BP's full-year earnings has moved 0.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BP has gained about 11.5% so far this year. In comparison, Oils-Energy companies have returned an average of 11.1%. As we can see, BP is performing better than its sector in the calendar year.
Permian Resources (PR - 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 29%.
The consensus estimate for Permian Resources' current year EPS has increased 15.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, BP belongs to the Oil and Gas - Integrated - International industry, a group that includes 13 individual companies and currently sits at #30 in the Zacks Industry Rank. On average, this group has gained an average of 12.6% so far this year, meaning that BP is slightly underperforming its industry in terms of year-to-date returns.
Permian Resources, however, belongs to the Oil and Gas - Exploration and Production - United States industry. Currently, this 37-stock industry is ranked #143. The industry has moved +14.2% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to BP and Permian Resources as they could maintain their solid performance.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is BP (BP - Free Report) one of those stocks right now? 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.
BP is one of 251 companies in the Oils-Energy group. The Oils-Energy group currently sits at #7 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 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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BP's full-year earnings has moved 0.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BP has gained about 11.5% so far this year. In comparison, Oils-Energy companies have returned an average of 11.1%. As we can see, BP is performing better than its sector in the calendar year.
Permian Resources (PR - 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 29%.
The consensus estimate for Permian Resources' current year EPS has increased 15.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, BP belongs to the Oil and Gas - Integrated - International industry, a group that includes 13 individual companies and currently sits at #30 in the Zacks Industry Rank. On average, this group has gained an average of 12.6% so far this year, meaning that BP is slightly underperforming its industry in terms of year-to-date returns.
Permian Resources, however, belongs to the Oil and Gas - Exploration and Production - United States industry. Currently, this 37-stock industry is ranked #143. The industry has moved +14.2% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to BP and Permian Resources as they could maintain their solid performance.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Get the latest research report on BP - FREE
Get the latest research report on PR - FREE