Is Helix Energy Solutions Group (HLX) Stock Outpacing Its Oils-Energy Peers 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 Helix Energy (HLX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Helix Energy is one of 247 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Helix Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HLX's full-year earnings has moved 23% 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, HLX has returned 97.8% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 32.9% on average. As we can see, Helix Energy is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Precision Drilling (PDS). The stock has returned 106.3% year-to-date.
For Precision Drilling, the consensus EPS estimate for the current year has increased 133.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Helix Energy belongs to the Oil and Gas - Field Services industry, which includes 25 individual stocks and currently sits at #29 in the Zacks Industry Rank. On average, stocks in this group have gained 14.8% this year, meaning that HLX is performing better in terms of year-to-date returns.
On the other hand, Precision Drilling belongs to the Oil and Gas - Drilling industry. This 7-stock industry is currently ranked #12. The industry has moved +55.1% year to date.
Helix Energy and Precision Drilling 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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Helix Energy Solutions Group, Inc. (HLX) : Free Stock Analysis Report
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