The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Goodrich Petroleum 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? 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 a member of the Oils-Energy sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #1. 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 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).
Over the past three months, the Zacks Consensus Estimate for GDP's full-year earnings has moved 18.08% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, GDP has moved about 113.38% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 39.19% on average. 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, a group that includes 43 individual stocks and currently sits at #8 in the Zacks Industry Rank. Stocks in this group have gained about 121.72% so far this year, so GDP is slightly underperforming its industry this group in terms of year-to-date returns.
GDP will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.
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Is Goodrich Petroleum (GDP) Outperforming Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Goodrich Petroleum 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? 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 a member of the Oils-Energy sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #1. 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 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).
Over the past three months, the Zacks Consensus Estimate for GDP's full-year earnings has moved 18.08% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, GDP has moved about 113.38% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 39.19% on average. 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, a group that includes 43 individual stocks and currently sits at #8 in the Zacks Industry Rank. Stocks in this group have gained about 121.72% so far this year, so GDP is slightly underperforming its industry this group in terms of year-to-date returns.
GDP will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.