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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. Is Baytex Energy (BTE - Free Report) one of those stocks right now? 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.
Baytex Energy is one of 255 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 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 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. 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 68% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BTE has gained about 29.1% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 27.6% on a year-to-date basis. This means that Baytex Energy is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, Suncor Energy (SU - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 52.7%.
In Suncor Energy's case, the consensus EPS estimate for the current year increased 30.3% 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 7 individual companies and currently sits at #38 in the Zacks Industry Rank. On average, stocks in this group have gained 47.4% this year, meaning that BTE is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Suncor Energy belongs to the Oil and Gas - Integrated - Canadian industry. This 4-stock industry is currently ranked #7. The industry has moved +57.4% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Baytex Energy and Suncor Energy 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. Is Baytex Energy (BTE - Free Report) one of those stocks right now? 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.
Baytex Energy is one of 255 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 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 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. 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 68% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BTE has gained about 29.1% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 27.6% on a year-to-date basis. This means that Baytex Energy is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, Suncor Energy (SU - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 52.7%.
In Suncor Energy's case, the consensus EPS estimate for the current year increased 30.3% 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 7 individual companies and currently sits at #38 in the Zacks Industry Rank. On average, stocks in this group have gained 47.4% this year, meaning that BTE is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Suncor Energy belongs to the Oil and Gas - Integrated - Canadian industry. This 4-stock industry is currently ranked #7. The industry has moved +57.4% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Baytex Energy and Suncor Energy as they could maintain their solid performance.