Is BP p.l.c. (BP) Stock Outpacing Its Oils-Energy Peers 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 BP p.l.c. (BP) 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.
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