Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Oceaneering International (OII) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Oceaneering International is a member of our Oils-Energy group, which includes 252 different companies and currently sits at #11 in 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 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).
Over the past three months, the Zacks Consensus Estimate for OII's full-year earnings has moved 11.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that OII has returned about 125.2% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 31.2% on a year-to-date basis. This shows that Oceaneering International is outperforming its peers so far this year.
Par Petroleum (PARR) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 133.6%.
In Par Petroleum's case, the consensus EPS estimate for the current year increased 55.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Oceaneering International belongs to the Oil and Gas - Field Services industry, a group that includes 20 individual companies and currently sits at #163 in the Zacks Industry Rank. On average, stocks in this group have gained 40.8% this year, meaning that OII is performing better in terms of year-to-date returns.
On the other hand, Par Petroleum belongs to the Oil and Gas - Refining and Marketing industry. This 16-stock industry is currently ranked #24. The industry has moved +79.3% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Oceaneering International and Par Petroleum as they attempt to continue their solid performance.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
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
Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don't Threaten. Threats of harming another
person will not be tolerated. Be Truthful. Don't knowingly lie about anyone
or anything. Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person. Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts. Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.