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Is Helmerich & Payne (HP) Outperforming Other Oils-Energy Stocks This Year?

Zacks Equity Research
·2-min read

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Helmerich & Payne (HP) been one of those stocks this year? 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.

Helmerich & Payne is a member of the Oils-Energy sector. This group includes 254 individual stocks and currently holds a Zacks Sector Rank of #2. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Helmerich & Payne is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for HP's full-year earnings has moved 59.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the latest available data, HP has gained about 85.2% so far this year. In comparison, Oils-Energy companies have returned an average of 21.1%. As we can see, Helmerich & Payne is performing better than its sector in the calendar year.

Another stock in the Oils-Energy sector, Cenovus Energy (CVE), has outperformed the sector so far this year. The stock's year-to-date return is 59.5%.

Over the past three months, Cenovus Energy's consensus EPS estimate for the current year has increased 16.5%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Helmerich & Payne belongs to the Oil and Gas - Drilling industry, a group that includes 7 individual stocks and currently sits at #26 in the Zacks Industry Rank. This group has gained an average of 44.1% so far this year, so HP is performing better in this area.

Cenovus Energy, however, belongs to the Oil and Gas - Integrated - Canadian industry. Currently, this 3-stock industry is ranked #4. The industry has moved +51.5% so far this year.

Helmerich & Payne and Cenovus Energy 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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Cenovus Energy Inc (CVE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.