Are Oils-Energy Stocks Lagging Nabors Industries (NBR) 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 Nabors Industries (NBR) 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.
Nabors Industries is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Nabors Industries is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NBR's full-year earnings has moved 9.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, NBR has returned 51.4% so far this year. At the same time, Oils-Energy stocks have gained an average of 28.5%. This means that Nabors Industries is outperforming the sector as a whole this year.
Another stock in the Oils-Energy sector, Delek US Holdings (DK), has outperformed the sector so far this year. The stock's year-to-date return is 95.3%.
For Delek US Holdings, the consensus EPS estimate for the current year has increased 42.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Nabors Industries belongs to the Oil and Gas - Drilling industry, a group that includes 7 individual stocks and currently sits at #8 in the Zacks Industry Rank. On average, stocks in this group have gained 30.6% this year, meaning that NBR is performing better in terms of year-to-date returns.
On the other hand, Delek US Holdings belongs to the Oil and Gas - Refining and Marketing industry. This 16-stock industry is currently ranked #4. The industry has moved +27.5% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Nabors Industries and Delek US Holdings as they could maintain their solid performance.
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