For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Galp Energia SGPS SA (GLPEY) been one of those stocks this year? 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.
Galp Energia SGPS SA is one of 245 companies in the Oils-Energy group. The Oils-Energy group currently sits at #14 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Galp Energia SGPS SA is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GLPEY's full-year earnings has moved 25.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, GLPEY has gained about 12.1% so far this year. In comparison, Oils-Energy companies have returned an average of 2%. As we can see, Galp Energia SGPS SA is performing better than its sector in the calendar year.
One other Oils-Energy stock that has outperformed the sector so far this year is Marathon Petroleum (MPC). The stock is up 29.7% year-to-date.
In Marathon Petroleum's case, the consensus EPS estimate for the current year increased 31.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Galp Energia SGPS SA belongs to the Oil and Gas - Refining and Marketing industry, a group that includes 15 individual stocks and currently sits at #21 in the Zacks Industry Rank. On average, this group has gained an average of 11.1% so far this year, meaning that GLPEY is performing better in terms of year-to-date returns. Marathon Petroleum is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Galp Energia SGPS SA and Marathon Petroleum as they could maintain their solid performance.
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Galp Energia SGPS SA (GLPEY): Free Stock Analysis Report Marathon Petroleum Corporation (MPC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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