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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 Baytex Energy (BTEGF) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Baytex Energy is a member of our Oils-Energy group, which includes 256 different companies and currently sits at #3 in 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 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. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BTEGF's full-year earnings has moved 42.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BTEGF has gained about 29.6% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 16.3% on average. This shows that Baytex Energy is outperforming its peers so far this year.
APA (APA) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 20.5%.
Over the past three months, APA's consensus EPS estimate for the current year has increased 27.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Baytex Energy is a member of the Oil and Gas - Exploration and Production - Canadian industry, which includes 6 individual companies and currently sits at #14 in the Zacks Industry Rank. On average, stocks in this group have gained 26.1% this year, meaning that BTEGF is performing better in terms of year-to-date returns.
APA, however, belongs to the Oil and Gas - Exploration and Production - United States industry. Currently, this 42-stock industry is ranked #57. The industry has moved +19.6% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on Baytex Energy and APA as they attempt to continue their solid performance.
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