Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Baker Hughes (BKR) 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.
Baker Hughes is a member of our Oils-Energy group, which includes 245 different companies and currently sits at #9 in the Zacks Sector Rank. 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. Baker Hughes is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BKR's full-year earnings has moved 2.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BKR has gained about 18.7% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 4.4% on average. As we can see, Baker Hughes is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Constellation Energy Corporation (CEG). The stock has returned 27.5% year-to-date.
Over the past three months, Constellation Energy Corporation's consensus EPS estimate for the current year has increased 33.1%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Baker Hughes belongs to the Oil and Gas - Field Services industry, a group that includes 21 individual companies and currently sits at #53 in the Zacks Industry Rank. This group has gained an average of 13.6% so far this year, so BKR is performing better in this area.
On the other hand, Constellation Energy Corporation belongs to the Alternative Energy - Other industry. This 40-stock industry is currently ranked #105. The industry has moved -7.1% year to date.
Investors with an interest in Oils-Energy stocks should continue to track Baker Hughes and Constellation Energy Corporation. These stocks will be looking to continue their solid performance.
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