The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Tidewater (TDW) 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? 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.
Tidewater is one of 234 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #14 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 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. Tidewater is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for TDW's full-year earnings has moved 18.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, TDW has gained about 58.9% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 22.1% on a year-to-date basis. This means that Tidewater is outperforming the sector as a whole this year.
Another stock in the Oils-Energy sector, Ultrapar Participacoes S.A. (UGP), has outperformed the sector so far this year. The stock's year-to-date return is 30.5%.
The consensus estimate for Ultrapar Participacoes S.A.'s current year EPS has increased 6.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Tidewater belongs to the Oil and Gas - Integrated - United States industry, a group that includes 12 individual companies and currently sits at #227 in the Zacks Industry Rank. Stocks in this group have gained about 26.3% so far this year, so TDW is performing better this group in terms of year-to-date returns.
Ultrapar Participacoes S.A., however, belongs to the Oil and Gas - Production and Pipelines industry. Currently, this 10-stock industry is ranked #77. The industry has moved +16.9% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Tidewater and Ultrapar Participacoes S.A.. These stocks will be looking to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tidewater Inc. (TDW): Free Stock Analysis Report Ultrapar Participacoes S.A. (UGP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
