The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Magnolia Oil & Gas Corp (MGY) 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.
Magnolia Oil & Gas Corp is a member of the Oils-Energy sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Magnolia Oil & Gas Corp is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MGY's full-year earnings has moved 19.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MGY has moved about 174.1% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 31.9%. This means that Magnolia Oil & Gas Corp is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Northern Oil and Gas (NOG). The stock is up 139.4% year-to-date.
The consensus estimate for Northern Oil and Gas' current year EPS has increased 34.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Magnolia Oil & Gas Corp is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 43 individual companies and currently sits at #16 in the Zacks Industry Rank. This group has gained an average of 108.3% so far this year, so MGY is performing better in this area. Northern Oil and Gas is also part of the same industry.
Investors with an interest in Oils-Energy stocks should continue to track Magnolia Oil & Gas Corp and Northern Oil and Gas. These stocks will be looking to continue their solid performance.
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