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Is Phillips 66 (PSX) Outperforming Other Oils-Energy Stocks This Year?
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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group 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 250 companies in the Oils-Energy group. The Oils-Energy group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. 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 29.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, PSX has moved about 55% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 43.7%. As we can see, Phillips 66 is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Patterson-UTI (PTEN - Free Report) . The stock has returned 119.2% year-to-date.
For Patterson-UTI, the consensus EPS estimate for the current year has 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 #21 in the Zacks Industry Rank. Stocks in this group have gained about 47.9% so far this year, so PSX is performing better this group in terms of year-to-date returns.
On the other hand, Patterson-UTI belongs to the Oil and Gas - Drilling industry. This 7-stock industry is currently ranked #16. The industry has moved +70.7% year to date.
Phillips 66 and Patterson-UTI could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
View the Zacks #1 Rank List
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Is Phillips 66 (PSX) Outperforming Other Oils-Energy Stocks This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group 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 250 companies in the Oils-Energy group. The Oils-Energy group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. 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 29.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, PSX has moved about 55% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 43.7%. As we can see, Phillips 66 is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Patterson-UTI (PTEN - Free Report) . The stock has returned 119.2% year-to-date.
For Patterson-UTI, the consensus EPS estimate for the current year has 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 #21 in the Zacks Industry Rank. Stocks in this group have gained about 47.9% so far this year, so PSX is performing better this group in terms of year-to-date returns.
On the other hand, Patterson-UTI belongs to the Oil and Gas - Drilling industry. This 7-stock industry is currently ranked #16. The industry has moved +70.7% year to date.
Phillips 66 and Patterson-UTI could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.