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Is Baytex Energy (BTE) Outperforming Other Oils-Energy Stocks This Year?
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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Baytex Energy (BTE - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Baytex Energy is one of 252 companies in the Oils-Energy group. The Oils-Energy group currently sits at #11 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 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. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BTE's full-year earnings has moved 20.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, BTE has moved about 49.2% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 32.2%. As we can see, Baytex Energy is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Forum Energy Technologies (FET - Free Report) . The stock has returned 112.7% year-to-date.
In Forum Energy Technologies' case, the consensus EPS estimate for the current year increased 82.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Baytex Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 8 individual companies and currently sits at #169 in the Zacks Industry Rank. This group has gained an average of 56.1% so far this year, so BTE is slightly underperforming its industry in this area.
Forum Energy Technologies, however, belongs to the Oil and Gas - Mechanical and and Equipment industry. Currently, this 12-stock industry is ranked #160. The industry has moved +38.4% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Baytex Energy and Forum Energy Technologies as they could maintain their solid performance.
View the Zacks #1 Rank List
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Is Baytex Energy (BTE) Outperforming Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Baytex Energy (BTE - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Baytex Energy is one of 252 companies in the Oils-Energy group. The Oils-Energy group currently sits at #11 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 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. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BTE's full-year earnings has moved 20.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, BTE has moved about 49.2% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 32.2%. As we can see, Baytex Energy is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Forum Energy Technologies (FET - Free Report) . The stock has returned 112.7% year-to-date.
In Forum Energy Technologies' case, the consensus EPS estimate for the current year increased 82.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Baytex Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 8 individual companies and currently sits at #169 in the Zacks Industry Rank. This group has gained an average of 56.1% so far this year, so BTE is slightly underperforming its industry in this area.
Forum Energy Technologies, however, belongs to the Oil and Gas - Mechanical and and Equipment industry. Currently, this 12-stock industry is ranked #160. The industry has moved +38.4% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Baytex Energy and Forum Energy Technologies as they could maintain their solid performance.