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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. Is BP (BP - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
BP is one of 234 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #6 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 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).
The Zacks Consensus Estimate for BP's full-year earnings has moved 31.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BP has moved about 32.9% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 32.8%. As we can see, BP is performing better than its sector in the calendar year.
Drilling Tools International Corp. (DTI - 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 46.9%.
In Drilling Tools International Corp.'s case, the consensus EPS estimate for the current year increased 26.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, BP belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual stocks and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have gained 37.4% this year, meaning that BP is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Drilling Tools International Corp. falls under the Oil and Gas - Field Services industry. Currently, this industry has 19 stocks and is ranked #31. Since the beginning of the year, the industry has moved +40.3%.
Investors interested in the Oils-Energy sector may want to keep a close eye on BP and Drilling Tools International Corp. as they attempt to continue their solid performance.
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Are Oils-Energy Stocks Lagging BP (BP) 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. Is BP (BP - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
BP is one of 234 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #6 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 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).
The Zacks Consensus Estimate for BP's full-year earnings has moved 31.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BP has moved about 32.9% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 32.8%. As we can see, BP is performing better than its sector in the calendar year.
Drilling Tools International Corp. (DTI - 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 46.9%.
In Drilling Tools International Corp.'s case, the consensus EPS estimate for the current year increased 26.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, BP belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual stocks and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have gained 37.4% this year, meaning that BP is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Drilling Tools International Corp. falls under the Oil and Gas - Field Services industry. Currently, this industry has 19 stocks and is ranked #31. Since the beginning of the year, the industry has moved +40.3%.
Investors interested in the Oils-Energy sector may want to keep a close eye on BP and Drilling Tools International Corp. as they attempt to continue their solid performance.