The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Statoil ASA (EQNR - 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.
Statoil ASA is one of 328 companies in the Oils-Energy group. The Oils-Energy group currently sits at #3 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. EQNR is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for EQNR's full-year earnings has moved 17.03% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that EQNR has returned about 17.13% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of -0.67%. As we can see, Statoil ASA is performing better than its sector in the calendar year.
Breaking things down more, EQNR is a member of the Alternative Energy - Other industry, which includes 17 individual companies and currently sits at #25 in the Zacks Industry Rank. This group has gained an average of 11.69% so far this year, so EQNR is performing better in this area.
Investors in the Oils-Energy sector will want to keep a close eye on EQNR as it attempts to continue its solid performance.