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Are Oils-Energy Stocks Lagging Phillips 66 (PSX) 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 a member of the Oils-Energy sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Phillips 66 is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PSX's full-year earnings has moved 39% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PSX has gained about 38.8% so far this year. At the same time, Oils-Energy stocks have gained an average of 33.4%. As we can see, Phillips 66 is performing better than its sector in the calendar year.
ProFrac Holding Corp. (ACDC - 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 93.8%.
Over the past three months, ProFrac Holding Corp.'s consensus EPS estimate for the current year has increased 8.4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Phillips 66 is a member of the Oil and Gas - Refining and Marketing industry, which includes 17 individual companies and currently sits at #9 in the Zacks Industry Rank. On average, this group has gained an average of 49.3% so far this year, meaning that PSX is slightly underperforming its industry in terms of year-to-date returns.
In contrast, ProFrac Holding Corp. falls under the Oil and Gas - Field Services industry. Currently, this industry has 19 stocks and is ranked #64. Since the beginning of the year, the industry has moved +53.2%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Phillips 66 and ProFrac Holding Corp. as they could maintain their solid performance.
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Are Oils-Energy Stocks Lagging Phillips 66 (PSX) 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 a member of the Oils-Energy sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Phillips 66 is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PSX's full-year earnings has moved 39% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PSX has gained about 38.8% so far this year. At the same time, Oils-Energy stocks have gained an average of 33.4%. As we can see, Phillips 66 is performing better than its sector in the calendar year.
ProFrac Holding Corp. (ACDC - 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 93.8%.
Over the past three months, ProFrac Holding Corp.'s consensus EPS estimate for the current year has increased 8.4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Phillips 66 is a member of the Oil and Gas - Refining and Marketing industry, which includes 17 individual companies and currently sits at #9 in the Zacks Industry Rank. On average, this group has gained an average of 49.3% so far this year, meaning that PSX is slightly underperforming its industry in terms of year-to-date returns.
In contrast, ProFrac Holding Corp. falls under the Oil and Gas - Field Services industry. Currently, this industry has 19 stocks and is ranked #64. Since the beginning of the year, the industry has moved +53.2%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Phillips 66 and ProFrac Holding Corp. as they could maintain their solid performance.