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Is BP p.l.c. (BP) Stock Outpacing Its Oils-Energy Peers This Year?

Zacks Equity Research
·2-min read

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 BP p.l.c. (BP) one of those stocks right now? 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.

BP p.l.c. is a member of our Oils-Energy group, which includes 253 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. BP is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for BP's full-year earnings has moved 33.67% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the most recent data, BP has returned 25.58% so far this year. In comparison, Oils-Energy companies have returned an average of 24.72%. This shows that BP p.l.c. is outperforming its peers so far this year.

To break things down more, BP belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual companies and currently sits at #38 in the Zacks Industry Rank. Stocks in this group have gained about 32.36% so far this year, so BP is slightly underperforming its industry this group in terms of year-to-date returns.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to BP as it looks to continue its solid performance.


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