Yahoo Finance Is Pedevco (PED) 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. Is Pedevco Corp. (PED) one of those stocks right now? 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.
Pedevco Corp. is one of 248 companies in the Oils-Energy group. The Oils-Energy group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Pedevco Corp. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PED's full-year earnings has moved 600% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, PED has returned 7.8% so far this year. In comparison, Oils-Energy companies have returned an average of 4.3%. As we can see, Pedevco Corp. is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Saipem (SAPMF). The stock has returned 33.5% year-to-date.
In Saipem's case, the consensus EPS estimate for the current year increased 9.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Pedevco Corp. belongs to the Oil and Gas - Mechanical and and Equipment industry, a group that includes 9 individual companies and currently sits at #103 in the Zacks Industry Rank. On average, this group has gained an average of 4.6% so far this year, meaning that PED is performing better in terms of year-to-date returns.
On the other hand, Saipem belongs to the Oil and Gas - Drilling industry. This 12-stock industry is currently ranked #156. The industry has moved -4.6% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Pedevco Corp. and Saipem as they attempt to continue their solid performance.
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Pedevco Corp. (PED) : Free Stock Analysis Report
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