Is NexTier Oilfield Solutions (NEX) Stock Outpacing Its Oils-Energy Peers This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has NexTier Oilfield Solutions (NEX) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
NexTier Oilfield Solutions is a member of our Oils-Energy group, which includes 256 different companies and currently sits at #2 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. NexTier Oilfield Solutions is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NEX's full-year earnings has moved 9300% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, NEX has moved about 79.2% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 15.1% on a year-to-date basis. This means that NexTier Oilfield Solutions is performing better than its sector in terms of year-to-date returns.
Occidental Petroleum (OXY) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 35.7%.
The consensus estimate for Occidental Petroleum's current year EPS has increased 30.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, NexTier Oilfield Solutions belongs to the Oil and Gas - Field Services industry, which includes 28 individual stocks and currently sits at #63 in the Zacks Industry Rank. Stocks in this group have gained about 1.1% so far this year, so NEX is performing better this group in terms of year-to-date returns.
On the other hand, Occidental Petroleum belongs to the Oil and Gas - Integrated - United States industry. This 12-stock industry is currently ranked #34. The industry has moved +25.5% year to date.
Investors with an interest in Oils-Energy stocks should continue to track NexTier Oilfield Solutions and Occidental Petroleum. These stocks will be looking to continue their solid performance.
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