Investors focused on the Oils-Energy space have likely heard of Goodrich Petroleum , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of GDP and the rest of the Oils-Energy group's stocks.
Goodrich Petroleum is one of 258 companies in the Oils-Energy group. The Oils-Energy group currently sits at #7 within the Zacks Sector Rank. 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. GDP is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GDP's full-year earnings has moved 40.58% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that GDP has returned about 137.96% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 33.82% on a year-to-date basis. This shows that Goodrich Petroleum is outperforming its peers so far this year.
Looking more specifically, GDP belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 44 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, stocks in this group have gained 108.45% this year, meaning that GDP is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on GDP as it attempts to continue its solid performance.
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Is Goodrich Petroleum (GDP) Outperforming Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of Goodrich Petroleum , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of GDP and the rest of the Oils-Energy group's stocks.
Goodrich Petroleum is one of 258 companies in the Oils-Energy group. The Oils-Energy group currently sits at #7 within the Zacks Sector Rank. 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. GDP is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GDP's full-year earnings has moved 40.58% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that GDP has returned about 137.96% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 33.82% on a year-to-date basis. This shows that Goodrich Petroleum is outperforming its peers so far this year.
Looking more specifically, GDP belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 44 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, stocks in this group have gained 108.45% this year, meaning that GDP is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on GDP as it attempts to continue its solid performance.