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Has Helmerich & Payne (HP) Outpaced Other Oils-Energy Stocks This Year?
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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Helmerich & Payne (HP - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Helmerich & Payne is a member of the Oils-Energy sector. This group includes 256 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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).
Within the past quarter, the Zacks Consensus Estimate for HP's full-year earnings has moved 22.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that HP has returned about 37.7% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 16.1%. This means that Helmerich & Payne is performing better than its sector in terms of year-to-date returns.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Cenovus Energy (CVE - Free Report) . The stock has returned 24.8% year-to-date.
Over the past three months, Cenovus Energy's consensus EPS estimate for the current year has increased 7.7%. The stock currently has a Zacks Rank #1 (Strong 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 #66 in the Zacks Industry Rank. Stocks in this group have gained about 26.1% so far this year, so HP is performing better this group in terms of year-to-date returns.
In contrast, Cenovus Energy falls under the Oil and Gas - Integrated - Canadian industry. Currently, this industry has 3 stocks and is ranked #5. Since the beginning of the year, the industry has moved +19.1%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Helmerich & Payne and Cenovus Energy as they could maintain their solid performance.
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Has Helmerich & Payne (HP) Outpaced Other Oils-Energy Stocks This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Helmerich & Payne (HP - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Helmerich & Payne is a member of the Oils-Energy sector. This group includes 256 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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).
Within the past quarter, the Zacks Consensus Estimate for HP's full-year earnings has moved 22.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that HP has returned about 37.7% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 16.1%. This means that Helmerich & Payne is performing better than its sector in terms of year-to-date returns.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Cenovus Energy (CVE - Free Report) . The stock has returned 24.8% year-to-date.
Over the past three months, Cenovus Energy's consensus EPS estimate for the current year has increased 7.7%. The stock currently has a Zacks Rank #1 (Strong 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 #66 in the Zacks Industry Rank. Stocks in this group have gained about 26.1% so far this year, so HP is performing better this group in terms of year-to-date returns.
In contrast, Cenovus Energy falls under the Oil and Gas - Integrated - Canadian industry. Currently, this industry has 3 stocks and is ranked #5. Since the beginning of the year, the industry has moved +19.1%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Helmerich & Payne and Cenovus Energy as they could maintain their solid performance.