Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is BP (BP) one of those stocks right now? 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 is a member of our Oils-Energy group, which includes 254 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. BP is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for BP's full-year earnings has moved 44.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BP has returned about 40.5% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 40.4% on a year-to-date basis. As we can see, BP is performing better than its sector in the calendar year.
HighPeak Energy, Inc. (HPK) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 109.1%.
The consensus estimate for HighPeak Energy, Inc.'s current year EPS has increased 287.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, BP belongs to the Oil and Gas - Integrated - International industry, a group that includes 19 individual stocks and currently sits at #22 in the Zacks Industry Rank. Stocks in this group have gained about 47.9% so far this year, so BP is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, HighPeak Energy, Inc. falls under the Oil and Gas - Exploration and Production - United States industry. Currently, this industry has 34 stocks and is ranked #59. Since the beginning of the year, the industry has moved +32.1%.
BP and HighPeak Energy, Inc. could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).