Investors focused on the Oils-Energy space have likely heard of Bonanza Creek Energy (BCEI), but is the stock performing well in comparison to the rest of its sector peers? 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.
Bonanza Creek Energy is one of 257 companies in the Oils-Energy group. The Oils-Energy group currently sits at #14 within 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. BCEI is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for BCEI's full-year earnings has moved 8.21% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that BCEI has returned about 26.23% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 10.06% on average. This shows that Bonanza Creek Energy is outperforming its peers so far this year.
Looking more specifically, BCEI belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 51 individual stocks and currently sits at #115 in the Zacks Industry Rank. This group has gained an average of 19.89% so far this year, so BCEI is performing better in this area.
Investors in the Oils-Energy sector will want to keep a close eye on BCEI as it attempts to continue its solid performance.
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