Yahoo Finance Are Oils-Energy Stocks Lagging Baytex Energy (BTE) This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Baytex Energy (BTE) 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.
Baytex Energy is a member of our Oils-Energy group, which includes 251 different companies and currently sits at #12 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BTE's full-year earnings has moved 23.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BTE has returned about 15.4% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 10.7%. As we can see, Baytex Energy is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Enerplus (ERF). The stock has returned 34.7% year-to-date.
Over the past three months, Enerplus' consensus EPS estimate for the current year has increased 4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Baytex Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 10 individual stocks and currently sits at #17 in the Zacks Industry Rank. On average, this group has gained an average of 24.7% so far this year, meaning that BTE is slightly underperforming its industry in terms of year-to-date returns. Enerplus is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Baytex Energy and Enerplus as they could maintain their solid performance.
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Baytex Energy Corp (BTE) : Free Stock Analysis Report
Enerplus Corporation (ERF) : Free Stock Analysis Report
