Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Oceaneering International (OII) 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.
Oceaneering International is a member of our Oils-Energy group, which includes 234 different companies and currently sits at #15 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Oceaneering International is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for OII's full-year earnings has moved 0.8% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, OII has returned 42.7% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 18.6% on a year-to-date basis. As we can see, Oceaneering International is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, W&T Offshore (WTI), has outperformed the sector so far this year. The stock's year-to-date return is 60.7%.
Over the past three months, W&T Offshore's consensus EPS estimate for the current year has increased 4.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Oceaneering International belongs to the Oil and Gas - Field Services industry, which includes 19 individual stocks and currently sits at #85 in the Zacks Industry Rank. On average, stocks in this group have gained 31.1% this year, meaning that OII is performing better in terms of year-to-date returns.
On the other hand, W&T Offshore belongs to the Oil and Gas - Exploration and Production - United States industry. This 34-stock industry is currently ranked #230. The industry has moved +14.3% year to date.
Oceaneering International and W&T Offshore could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Oceaneering International, Inc. (OII): Free Stock Analysis Report W&T Offshore, Inc. (WTI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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