Investors focused on the Oils-Energy space have likely heard of Ecopetrol (EC), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of EC and the rest of the Oils-Energy group's stocks.
Ecopetrol is one of 311 companies in the Oils-Energy group. The Oils-Energy group currently sits at #5 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 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. EC is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for EC's full-year earnings has moved 19.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that EC has returned about 6.23% since the start of the calendar year. At the same time, Oils-Energy stocks have gained an average of 6.20%. This means that Ecopetrol is performing better than its sector in terms of year-to-date returns.
Breaking things down more, EC is a member of the Oil and Gas - Integrated - Emerging Markets industry, which includes 4 individual companies and currently sits at #44 in the Zacks Industry Rank. This group has gained an average of 9.57% so far this year, so EC is slightly underperforming its industry in this area.
Investors with an interest in Oils-Energy stocks should continue to track EC. The stock will be looking to continue its solid performance.
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