Has HighPeak Energy (HPK) Outpaced Other Oils-Energy Stocks This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has HighPeak Energy, Inc. (HPK) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
HighPeak Energy, Inc. is one of 254 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. HighPeak Energy, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HPK's full-year earnings has moved 33% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HPK has returned about 95.8% since the start of the calendar year. At the same time, Oils-Energy stocks have gained an average of 23.4%. This means that HighPeak Energy, Inc. is outperforming the sector as a whole this year.
Delek US Holdings (DK) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 88.1%.
In Delek US Holdings' case, the consensus EPS estimate for the current year increased 701.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, HighPeak Energy, Inc. is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 41 individual companies and currently sits at #39 in the Zacks Industry Rank. On average, stocks in this group have gained 37.2% this year, meaning that HPK is performing better in terms of year-to-date returns.
In contrast, Delek US Holdings falls under the Oil and Gas - Refining and Marketing industry. Currently, this industry has 14 stocks and is ranked #16. Since the beginning of the year, the industry has moved +27.5%.
Investors with an interest in Oils-Energy stocks should continue to track HighPeak Energy, Inc. and Delek US Holdings. These stocks will be looking to continue their solid performance.
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