The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has BP p.l.c. (BP - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
BP p.l.c. is a member of the Oils-Energy sector. This group includes 331 individual stocks and currently holds a Zacks Sector Rank of #7. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. BP is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BP's full-year earnings has moved 1.85% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BP has moved about 11.80% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 10.58% on average. As we can see, BP p.l.c. is performing better than its sector in the calendar year.
To break things down more, BP belongs to the Oil and Gas - Integrated - International industry, a group that includes 14 individual companies and currently sits at #34 in the Zacks Industry Rank. This group has gained an average of 9.86% so far this year, so BP is performing better in this area.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to BP as it looks to continue its solid performance.