For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Precision Drilling (PDS - Free Report) 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 PDS and the rest of the Oils-Energy group's stocks.
Precision Drilling is a member of our Oils-Energy group, which includes 330 different companies and currently sits at #1 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PDS is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PDS's full-year earnings has moved 6.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PDS has returned 6.29% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 4.84% on a year-to-date basis. This means that Precision Drilling is outperforming the sector as a whole this year.
Looking more specifically, PDS belongs to the Oil and Gas - Drilling industry, which includes 21 individual stocks and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 1.90% so far this year, meaning that PDS is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to PDS as it looks to continue its solid performance.