Is Baytex Energy (BTE) Stock Outpacing Its Oils-Energy Peers This Year?

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 (BTE) one of those stocks right now? 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.

Baytex Energy is a member of our Oils-Energy group, which includes 251 different companies and currently sits at #7 in 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. Baytex Energy is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for BTE's full-year earnings has moved 20.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, BTE has moved about 50.5% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 32.4%. This shows that Baytex Energy is outperforming its peers so far this year.

Ampol Limited - Unsponsored ADR (CTXAY) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 38.3%.

In Ampol Limited - Unsponsored ADR's case, the consensus EPS estimate for the current year increased 16.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Baytex Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, which includes 8 individual stocks and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 54% so far this year, meaning that BTE is slightly underperforming its industry in terms of year-to-date returns.

In contrast, Ampol Limited - Unsponsored ADR falls under the Oil and Gas - Refining and Marketing industry. Currently, this industry has 16 stocks and is ranked #21. Since the beginning of the year, the industry has moved +121.2%.

Baytex Energy and Ampol Limited - Unsponsored ADR could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.

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This article originally published on Zacks Investment Research (zacks.com).

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