Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Nine Energy Service (NINE) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Nine Energy Service is a member of the Oils-Energy sector. This group includes 247 individual stocks and currently holds a Zacks Sector Rank of #7. 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. Nine Energy Service is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NINE's full-year earnings has moved 20% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, NINE has returned 13.4% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 5.4% on a year-to-date basis. This means that Nine Energy Service is performing better than its sector in terms of year-to-date returns.
Skeena Resources Limited (SKE) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.2%.
Over the past three months, Skeena Resources Limited's consensus EPS estimate for the current year has increased 23.4%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Nine Energy Service belongs to the Oil and Gas - Field Services industry, a group that includes 22 individual companies and currently sits at #140 in the Zacks Industry Rank. On average, this group has gained an average of 3.1% so far this year, meaning that NINE is performing better in terms of year-to-date returns.
On the other hand, Skeena Resources Limited belongs to the Oil and Gas - Exploration and Production - Canadian industry. This 12-stock industry is currently ranked #17. The industry has moved +1.8% year to date.
Investors with an interest in Oils-Energy stocks should continue to track Nine Energy Service and Skeena Resources Limited. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
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