Is Galp Energia (GLPEY) Outperforming Other Oils-Energy Stocks This Year?

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Galp Energia SGPS SA (GLPEY) 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.

Galp Energia SGPS SA is a member of our Oils-Energy group, which includes 252 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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).

The Zacks Consensus Estimate for GLPEY's full-year earnings has moved 21% higher within the past quarter. 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 48% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 30.4% on a year-to-date basis. This means that Galp Energia SGPS SA is performing better than its sector in terms of year-to-date returns.

Paramount Resources (PRMRF) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 32.6%.

In Paramount Resources' case, the consensus EPS estimate for the current year increased 1.9% 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, which includes 16 individual stocks and currently sits at #22 in the Zacks Industry Rank. On average, stocks in this group have gained 110.4% this year, meaning that GLPEY is slightly underperforming its industry in terms of year-to-date returns.

In contrast, Paramount Resources falls under the Oil and Gas - Exploration and Production - Canadian industry. Currently, this industry has 8 stocks and is ranked #66. Since the beginning of the year, the industry has moved +54.8%.

Investors with an interest in Oils-Energy stocks should continue to track Galp Energia SGPS SA and Paramount Resources. These stocks will be looking to continue their solid performance.

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

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