The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has ConocoPhillips (COP) 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.
ConocoPhillips is one of 240 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ConocoPhillips is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for COP's full-year earnings has moved 107.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that COP has returned about 37% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 31.6%. This shows that ConocoPhillips is outperforming its peers so far this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Equinor (EQNR). The stock is up 69.6% year-to-date.
For Equinor, the consensus EPS estimate for the current year has increased 79.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, ConocoPhillips belongs to the Oil and Gas - Integrated - United States industry, a group that includes 12 individual companies and currently sits at #81 in the Zacks Industry Rank. This group has gained an average of 36% so far this year, so COP is performing better in this area.
On the other hand, Equinor belongs to the Oil and Gas - Refining and Marketing industry. This 17-stock industry is currently ranked #8. The industry has moved +47.3% year to date.
ConocoPhillips and Equinor 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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ConocoPhillips (COP): Free Stock Analysis Report
Equinor ASA (EQNR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).