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Is PattersonUTI Energy (PTEN) Stock Outpacing Its Oils-Energy Peers 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 Patterson-UTI (PTEN - Free Report) been one of those stocks this year? 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.
Patterson-UTI is one of 252 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 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 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. Patterson-UTI is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PTEN's full-year earnings has moved 57.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, PTEN has moved about 49.8% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 19.9% on a year-to-date basis. As we can see, Patterson-UTI is performing better than its sector in the calendar year.
One other Oils-Energy stock that has outperformed the sector so far this year is Suncor Energy (SU - Free Report) . The stock is up 27.7% year-to-date.
Over the past three months, Suncor Energy's consensus EPS estimate for the current year has increased 43.6%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Patterson-UTI belongs to the Oil and Gas - Drilling industry, a group that includes 9 individual stocks and currently sits at #68 in the Zacks Industry Rank. On average, stocks in this group have gained 28.2% this year, meaning that PTEN is performing better in terms of year-to-date returns.
Suncor Energy, however, belongs to the Oil and Gas - Integrated - Canadian industry. Currently, this 4-stock industry is ranked #4. The industry has moved +35.8% so far this year.
Patterson-UTI and Suncor Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
View the Zacks #1 Rank List
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Is PattersonUTI Energy (PTEN) 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 Patterson-UTI (PTEN - Free Report) been one of those stocks this year? 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.
Patterson-UTI is one of 252 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 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 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. Patterson-UTI is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PTEN's full-year earnings has moved 57.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, PTEN has moved about 49.8% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 19.9% on a year-to-date basis. As we can see, Patterson-UTI is performing better than its sector in the calendar year.
One other Oils-Energy stock that has outperformed the sector so far this year is Suncor Energy (SU - Free Report) . The stock is up 27.7% year-to-date.
Over the past three months, Suncor Energy's consensus EPS estimate for the current year has increased 43.6%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Patterson-UTI belongs to the Oil and Gas - Drilling industry, a group that includes 9 individual stocks and currently sits at #68 in the Zacks Industry Rank. On average, stocks in this group have gained 28.2% this year, meaning that PTEN is performing better in terms of year-to-date returns.
Suncor Energy, however, belongs to the Oil and Gas - Integrated - Canadian industry. Currently, this 4-stock industry is ranked #4. The industry has moved +35.8% so far this year.
Patterson-UTI and Suncor Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.