For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has OMV AG (OMVKY) 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.
OMV AG is one of 238 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. OMV AG is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OMVKY's full-year earnings has moved 28.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, OMVKY has moved about 29.8% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 26%. As we can see, OMV AG is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Suncor Energy (SU), has outperformed the sector so far this year. The stock's year-to-date return is 44.2%.
In Suncor Energy's case, the consensus EPS estimate for the current year increased 148.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, OMV AG is a member of the Oil and Gas - Integrated - International industry, which includes 16 individual companies and currently sits at #7 in the Zacks Industry Rank. This group has gained an average of 23.7% so far this year, so OMVKY is performing better in this area.
On the other hand, Suncor Energy belongs to the Oil and Gas - Integrated - Canadian industry. This 4-stock industry is currently ranked #5. The industry has moved +52.5% year to date.
Investors with an interest in Oils-Energy stocks should continue to track OMV AG and Suncor Energy. These stocks will be looking to continue their solid performance.
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OMV AG (OMVKY): Free Stock Analysis Report
Suncor Energy Inc. (SU): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).