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Is Occidental Petroleum (OXY) Outperforming Other Oils-Energy Stocks This Year?

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Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Occidental Petroleum (OXY - Free Report) 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.

Occidental Petroleum is a member of our Oils-Energy group, which includes 254 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. Occidental Petroleum is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for OXY's full-year earnings has moved 27.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, OXY has gained about 97.9% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 13.2% on a year-to-date basis. As we can see, Occidental Petroleum is performing better than its sector in the calendar year.

Another Oils-Energy stock, which has outperformed the sector so far this year, is Precision Drilling (PDS - Free Report) . The stock has returned 53% year-to-date.

Over the past three months, Precision Drilling's consensus EPS estimate for the current year has increased 4.2%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Occidental Petroleum belongs to the Oil and Gas - Integrated - United States industry, a group that includes 11 individual stocks and currently sits at #30 in the Zacks Industry Rank. This group has gained an average of 30.5% so far this year, so OXY is performing better in this area.

On the other hand, Precision Drilling belongs to the Oil and Gas - Drilling industry. This 7-stock industry is currently ranked #14. The industry has moved +20.5% year to date.

Occidental Petroleum and Precision Drilling could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.


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