Has NOW (DNOW) Outpaced Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Now (DNOW) 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.
Now is one of 257 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. 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. Now is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DNOW's full-year earnings has moved 22.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, DNOW has moved about 36.2% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 32.4%. As we can see, Now is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Marathon Oil (MRO). The stock has returned 68.4% year-to-date.
For Marathon Oil, the consensus EPS estimate for the current year has increased 84.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Now is a member of the Oil and Gas - Mechanical and and Equipment industry, which includes 12 individual companies and currently sits at #107 in the Zacks Industry Rank. Stocks in this group have gained about 27.3% so far this year, so DNOW is performing better this group in terms of year-to-date returns.
Marathon Oil, however, belongs to the Oil and Gas - Integrated - United States industry. Currently, this 11-stock industry is ranked #7. The industry has moved +55.4% so far this year.
Now and Marathon Oil could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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