Is Baytex Energy (BTE) Stock Outpacing Its Oils-Energy Peers This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Baytex Energy (BTE) 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.
Baytex Energy is one of 249 companies in the Oils-Energy group. The Oils-Energy group currently sits at #16 within 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. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BTE's full-year earnings has moved 9.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BTE has moved about 7.5% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 6.8% on average. This shows that Baytex Energy is outperforming its peers so far this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Kodiak Gas Services (KGS). The stock is up 34.7% year-to-date.
For Kodiak Gas Services, the consensus EPS estimate for the current year has increased 53.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Baytex Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 8 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, this group has gained an average of 15.9% so far this year, meaning that BTE is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Kodiak Gas Services falls under the Oil and Gas - Mechanical and and Equipment industry. Currently, this industry has 9 stocks and is ranked #156. Since the beginning of the year, the industry has moved +19.3%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Baytex Energy and Kodiak Gas Services as they could maintain their solid performance.
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Baytex Energy Corp (BTE) : Free Stock Analysis Report
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