Has Petroleo Brasileiro S.A.- Petrobras (PBR) Outpaced Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of Petroleo Brasileiro S.A.- Petrobras (PBR), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Petroleo Brasileiro S.A.- Petrobras is a member of our Oils-Energy group, which includes 323 different companies and currently sits at #9 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. PBR is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PBR's full-year earnings has moved 27.27% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, PBR has gained about 6.22% so far this year. In comparison, Oils-Energy companies have returned an average of 1.65%. This means that Petroleo Brasileiro S.A.- Petrobras is outperforming the sector as a whole this year.
Breaking things down more, PBR is a member of the Oil and Gas - Integrated - Emerging Markets industry, which includes 3 individual companies and currently sits at #24 in the Zacks Industry Rank. Stocks in this group have gained about 16.43% so far this year, so PBR is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on PBR as it attempts to continue its solid performance.
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