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 Alliance Resource Partners, L.P. (ARLP) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Alliance Resource Partners, L.P. is a member of the Oils-Energy sector. This group includes 253 individual stocks and currently holds a Zacks Sector Rank of #1. 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 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. Alliance Resource Partners, L.P. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ARLP's full-year earnings has moved 30% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ARLP has gained about 85.1% so far this year. In comparison, Oils-Energy companies have returned an average of 20%. This means that Alliance Resource Partners, L.P. is outperforming the sector as a whole this year.
Another stock in the Oils-Energy sector, Chevron (CVX), has outperformed the sector so far this year. The stock's year-to-date return is 23.4%.
The consensus estimate for Chevron's current year EPS has increased 2.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Alliance Resource Partners, L.P. belongs to the Coal industry, which includes 8 individual stocks and currently sits at #183 in the Zacks Industry Rank. On average, stocks in this group have gained 74.2% this year, meaning that ARLP is performing better in terms of year-to-date returns.
Chevron, however, belongs to the Oil and Gas - Integrated - International industry. Currently, this 16-stock industry is ranked #31. The industry has moved +26% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Alliance Resource Partners, L.P. and Chevron. These stocks will be looking to continue their solid performance.
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