Has Laredo Petroleum (LPI) Outpaced Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Laredo Petroleum (LPI) 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.
Laredo Petroleum 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 gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Laredo Petroleum is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for LPI's full-year earnings has moved 13.2% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, LPI has returned 25% so far this year. In comparison, Oils-Energy companies have returned an average of 13.3%. This means that Laredo Petroleum is outperforming the sector as a whole this year.
Imperial Oil (IMO) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 19.1%.
The consensus estimate for Imperial Oil's current year EPS has increased 16.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Laredo Petroleum belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 42 individual stocks and currently sits at #70 in the Zacks Industry Rank. This group has gained an average of 19.4% so far this year, so LPI is performing better in this area.
In contrast, Imperial Oil falls under the Oil and Gas - Integrated - Canadian industry. Currently, this industry has 3 stocks and is ranked #10. Since the beginning of the year, the industry has moved +18.5%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Laredo Petroleum and Imperial Oil as they could maintain their solid performance.
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