The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Baytex Energy (BTE) 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.
Baytex Energy is a member of the Oils-Energy sector. This group includes 250 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BTE's full-year earnings has moved 20.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, BTE has returned 41.8% so far this year. In comparison, Oils-Energy companies have returned an average of 30.5%. As we can see, Baytex Energy is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Ampol Limited - Unsponsored ADR (CTXAY). The stock has returned 54.5% year-to-date.
Over the past three months, Ampol Limited - Unsponsored ADR's consensus EPS estimate for the current year has increased 16.7%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Baytex Energy is a member of the Oil and Gas - Exploration and Production - Canadian industry, which includes 7 individual companies and currently sits at #57 in the Zacks Industry Rank. This group has gained an average of 44.9% so far this year, so BTE is slightly underperforming its industry in this area.
Ampol Limited - Unsponsored ADR, however, belongs to the Oil and Gas - Refining and Marketing industry. Currently, this 16-stock industry is ranked #21. The industry has moved +122.3% so far this year.
Baytex Energy and Ampol Limited - Unsponsored ADR 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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Baytex Energy Corp (BTE): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).