Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Statoil ASA (EQNR - 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.
Statoil ASA is a member of the Oils-Energy sector. This group includes 328 individual stocks and currently holds a Zacks Sector Rank of #6. 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. EQNR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for EQNR's full-year earnings has moved 14.92% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, EQNR has moved about 7.61% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of -6.26% on a year-to-date basis. This means that Statoil ASA is outperforming the sector as a whole this year.
Looking more specifically, EQNR belongs to the Alternative Energy - Other industry, a group that includes 17 individual stocks and currently sits at #33 in the Zacks Industry Rank. On average, this group has gained an average of 6.24% so far this year, meaning that EQNR is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to EQNR as it looks to continue its solid performance.