Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Earthstone Energy (ESTE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Earthstone Energy 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 gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Earthstone Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ESTE’s full-year earnings has moved 28.1% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, ESTE has moved about 18.7% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 13.8%. This means that Earthstone Energy 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 Helix Energy (HLX). The stock has returned 23.4% year-to-date.
Over the past three months, Helix Energy’s consensus EPS estimate for the current year has increased 3.5%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Earthstone Energy belongs to the Oil and Gas – Exploration and Production – United States industry, a group that includes 42 individual companies and currently sits at #68 in the Zacks Industry Rank. This group has gained an average of 21.6% so far this year, so ESTE is slightly underperforming its industry in this area.
On the other hand, Helix Energy belongs to the Oil and Gas – Field Services industry. This 28-stock industry is currently ranked #52. The industry has moved +5.4% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Earthstone Energy and Helix Energy as they could maintain their solid performance.
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