Is BP (BP) Outperforming Other Oils-Energy Stocks This Year?

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. 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 one of 248 companies in the Oils-Energy group. The Oils-Energy group currently sits at #12 within 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 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. BP is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for BP’s full-year earnings has moved 1.2% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Our latest available data shows that BP has returned about 14.6% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of -0.9%. As we can see, BP is performing better than its sector in the calendar year.

Eni SpA (E) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 5.9%.

In Eni SpA’s case, the consensus EPS estimate for the current year increased 0.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, BP belongs to the Oil and Gas – Integrated – International industry, a group that includes 14 individual companies and currently sits at #8 in the Zacks Industry Rank. Stocks in this group have gained about 1.3% so far this year, so BP is performing better this group in terms of year-to-date returns. Eni SpA is also part of the same industry.

Investors interested in the Oils-Energy sector may want to keep a close eye on BP and Eni SpA as they attempt to continue their solid performance.

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