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 Magellan Petroleum Corporation (TELL) 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.
Magellan Petroleum Corporation is a member of the Oils-Energy sector. This group includes 256 individual stocks and currently holds a Zacks Sector Rank of #8. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Magellan Petroleum Corporation is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TELL’s full-year earnings has moved 30.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the most recent data, TELL has returned 8.4% so far this year. At the same time, Oils-Energy stocks have gained an average of 6.8%. This shows that Magellan Petroleum Corporation is outperforming its peers so far this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Exxon Mobil (XOM). The stock is up 16.6% year-to-date.
The consensus estimate for Exxon Mobil’s current year EPS has increased 13.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Magellan Petroleum Corporation belongs to the Oil and Gas – Refining and Marketing industry, a group that includes 14 individual stocks and currently sits at #91 in the Zacks Industry Rank.
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