Investors focused on the Oils-Energy space have likely heard of Global Partners (GLP), but is the stock performing well in comparison to the rest of its sector peers? 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.
Global Partners is one of 251 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #7 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 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. GLP is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GLP's full-year earnings has moved 71.60% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that GLP has returned about 36.94% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 19.11% on average. This means that Global Partners is outperforming the sector as a whole this year.
Breaking things down more, GLP is a member of the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, which includes 12 individual companies and currently sits at #187 in the Zacks Industry Rank. On average, stocks in this group have gained 23.67% this year, meaning that GLP is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to GLP as it looks to continue its solid performance.
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