Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Occidental Petroleum (OXY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of OXY and the rest of the Oils-Energy group's stocks.
Occidental Petroleum is one of 258 companies in the Oils-Energy group. The Oils-Energy group currently sits at #2 within 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. OXY is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for OXY's full-year earnings has moved 418.21% 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, OXY has returned 86.48% so far this year. In comparison, Oils-Energy companies have returned an average of 36.77%. This shows that Occidental Petroleum is outperforming its peers so far this year.
Looking more specifically, OXY belongs to the Oil and Gas - Integrated - United States industry, a group that includes 12 individual stocks and currently sits at #24 in the Zacks Industry Rank. On average, this group has gained an average of 93.41% so far this year, meaning that OXY is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on OXY as it attempts to continue its solid performance.
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