Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Texas Pacific (TPL) been one of those stocks this year? 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.
Texas Pacific is one of 238 companies in the Oils-Energy group. The Oils-Energy group currently sits at #2 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. Texas Pacific is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TPL's full-year earnings has moved 18.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, TPL has returned 39.7% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 25.7% on average. As we can see, Texas Pacific is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Meren Energy (MRNFF). The stock has returned 31.5% year-to-date.
In Meren Energy's case, the consensus EPS estimate for the current year increased 62.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Texas Pacific belongs to the Alternative Energy - Other industry, a group that includes 50 individual stocks and currently sits at #80 in the Zacks Industry Rank. On average, stocks in this group have gained 19.4% this year, meaning that TPL is performing better in terms of year-to-date returns. Meren Energy is also part of the same industry.
Investors interested in the Oils-Energy sector may want to keep a close eye on Texas Pacific and Meren Energy as they attempt to continue their solid performance.
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Texas Pacific Land Corporation (TPL): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).