For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. EQT Corporation (EQT) 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? 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.
EQT Corporation is one of 246 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #14 in 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 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. EQT Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for EQT's full-year earnings has moved 3.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, EQT has gained about 3.4% so far this year. Meanwhile, stocks in the Oils-Energy group have lost about 9.5% on average. As we can see, EQT Corporation 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 TC Energy (TRP). The stock is up 4.1% year-to-date.
In TC Energy's case, the consensus EPS estimate for the current year increased 3.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, EQT Corporation belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 36 individual stocks and currently sits at #202 in the Zacks Industry Rank. Stocks in this group have lost about 30.1% so far this year, so EQT is performing better this group in terms of year-to-date returns.
In contrast, TC Energy falls under the Alternative Energy - Other industry. Currently, this industry has 44 stocks and is ranked #146. Since the beginning of the year, the industry has moved -8.5%.
Investors with an interest in Oils-Energy stocks should continue to track EQT Corporation and TC Energy. These stocks will be looking to continue their solid performance.
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EQT Corporation (EQT): Free Stock Analysis Report TC Energy Corporation (TRP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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