The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Baytex Energy (BTE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Baytex Energy is one of 254 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #3 in 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. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BTE's full-year earnings has moved 86.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, BTE has returned 46.8% so far this year. At the same time, Oils-Energy stocks have gained an average of 37.2%. This means that Baytex Energy is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Neste OYJ - Unsponsored ADR (NTOIY). The stock has returned 65% year-to-date.
Over the past three months, Neste OYJ - Unsponsored ADR's consensus EPS estimate for the current year has increased 27.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Baytex Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, which includes 7 individual stocks and currently sits at #35 in the Zacks Industry Rank. This group has gained an average of 50.5% so far this year, so BTE is slightly underperforming its industry in this area.
In contrast, Neste OYJ - Unsponsored ADR falls under the Oil and Gas - Refining and Marketing industry. Currently, this industry has 15 stocks and is ranked #4. Since the beginning of the year, the industry has moved +150.3%.
Investors with an interest in Oils-Energy stocks should continue to track Baytex Energy and Neste OYJ - Unsponsored ADR. These stocks will be looking to continue their solid performance.
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Baytex Energy Corp (BTE): Free Stock Analysis Report
Neste OYJ - Unsponsored ADR (NTOIY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).