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Is ConocoPhillips (COP) Stock Outpacing Its Oils-Energy Peers This Year?
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Investors focused on the Oils-Energy space have likely heard of ConocoPhillips (COP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
ConocoPhillips is one of 323 companies in the Oils-Energy group. The Oils-Energy group currently sits at #9 within 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. COP is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for COP's full-year earnings has moved 18.26% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, COP has moved about 23.56% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 0.95% on a year-to-date basis. As we can see, ConocoPhillips is performing better than its sector in the calendar year.
Looking more specifically, COP belongs to the Oil and Gas - Integrated - United States industry, which includes 9 individual stocks and currently sits at #76 in the Zacks Industry Rank. On average, this group has gained an average of 12.94% so far this year, meaning that COP is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to COP as it looks to continue its solid performance.
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Is ConocoPhillips (COP) Stock Outpacing Its Oils-Energy Peers This Year?
Investors focused on the Oils-Energy space have likely heard of ConocoPhillips (COP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
ConocoPhillips is one of 323 companies in the Oils-Energy group. The Oils-Energy group currently sits at #9 within 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. COP is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for COP's full-year earnings has moved 18.26% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, COP has moved about 23.56% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 0.95% on a year-to-date basis. As we can see, ConocoPhillips is performing better than its sector in the calendar year.
Looking more specifically, COP belongs to the Oil and Gas - Integrated - United States industry, which includes 9 individual stocks and currently sits at #76 in the Zacks Industry Rank. On average, this group has gained an average of 12.94% so far this year, meaning that COP is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to COP as it looks to continue its solid performance.