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Has Baytex Energy (BTEGF) Outpaced Other Oils-Energy Stocks 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 Baytex Energy (BTEGF) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Baytex Energy is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for BTEGF's full-year earnings has moved 27.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, BTEGF has returned 52.1% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 19.5% on average. As we can see, Baytex Energy is performing better than its sector in the calendar year.

Another stock in the Oils-Energy sector, Earthstone Energy (ESTE), has outperformed the sector so far this year. The stock's year-to-date return is 23.5%.

For Earthstone Energy, the consensus EPS estimate for the current year has increased 58.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Baytex Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 6 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, stocks in this group have gained 24% this year, meaning that BTEGF is performing better in terms of year-to-date returns.

In contrast, Earthstone Energy falls under the Oil and Gas - Exploration and Production - United States industry. Currently, this industry has 41 stocks and is ranked #54. Since the beginning of the year, the industry has moved +28.4%.

Investors interested in the Oils-Energy sector may want to keep a close eye on Baytex Energy and Earthstone Energy as they attempt to continue their solid performance.


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Baytex Energy Corp (BTEGF) : Free Stock Analysis Report
 
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