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Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Panhandle Oil & Gas (PHX) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Panhandle Oil & Gas is a member of the Oils-Energy sector. This group includes 256 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. Panhandle Oil & Gas is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PHX's full-year earnings has moved 107.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that PHX has returned about 85.7% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 32.1% on average. This shows that Panhandle Oil & Gas is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Patterson-UTI (PTEN). The stock has returned 100.7% year-to-date.
The consensus estimate for Patterson-UTI's current year EPS has increased 125.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Panhandle Oil & Gas belongs to the Oil and Gas - Integrated - United States industry, which includes 11 individual stocks and currently sits at #78 in the Zacks Industry Rank. This group has gained an average of 62.2% so far this year, so PHX is performing better in this area.
On the other hand, Patterson-UTI belongs to the Oil and Gas - Drilling industry. This 7-stock industry is currently ranked #105. The industry has moved +58.3% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Panhandle Oil & Gas and Patterson-UTI as they attempt to continue their solid performance.