The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Equinor (EQNR) one of those stocks right now? 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.
Equinor is a member of our Oils-Energy group, which includes 251 different companies and currently sits at #1 in 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. Equinor is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for EQNR’s full-year earnings has moved 20% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, EQNR has returned 39.8% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 39.7% on a year-to-date basis. This means that Equinor is performing better than its sector in terms of year-to-date returns.
Halliburton (HAL) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 57.2%.
For Halliburton, the consensus EPS estimate for the current year has increased 2.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Equinor is a member of the Oil and Gas – Refining and Marketing industry, which includes 16 individual companies and currently sits at #11 in the Zacks Industry Rank. This group has gained an average of 39.5% so far this year, so EQNR is performing better in this area.
On the other hand, Halliburton belongs to the Oil and Gas – Field Services industry. This 26-stock industry is currently ranked #15. The industry has moved +10.2% year to date.
Equinor and Halliburton 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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