Are Oils-Energy Stocks Lagging NGL Energy Partners (NGL) This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. NGL Energy Partners LP (NGL) 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? 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.
NGL Energy Partners LP is a member of our Oils-Energy group, which includes 249 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. NGL Energy Partners LP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NGL's full-year earnings has moved 171.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NGL has moved about 213.2% on a year-to-date basis. At the same time, Oils-Energy stocks have lost an average of 0.5%. This means that NGL Energy Partners LP is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Oceaneering International (OII). The stock has returned 33.3% year-to-date.
In Oceaneering International's case, the consensus EPS estimate for the current year increased 25.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, NGL Energy Partners LP is a member of the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, which includes 7 individual companies and currently sits at #131 in the Zacks Industry Rank. On average, stocks in this group have gained 8.3% this year, meaning that NGL is performing better in terms of year-to-date returns.
In contrast, Oceaneering International falls under the Oil and Gas - Field Services industry. Currently, this industry has 22 stocks and is ranked #222. Since the beginning of the year, the industry has moved +8.6%.
NGL Energy Partners LP and Oceaneering International 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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