Is Range Resources (RRC) Stock Outpacing Its Oils-Energy Peers This Year?
Investors focused on the Oils-Energy space have likely heard of Range Resources (RRC), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of RRC and the rest of the Oils-Energy group's stocks.
Range Resources is one of 258 companies in the Oils-Energy group. The Oils-Energy group currently sits at #6 within 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 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. RRC is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for RRC's full-year earnings has moved 34.60% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, RRC has gained about 234.93% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 32.35% on average. This means that Range Resources is outperforming the sector as a whole this year.
Looking more specifically, RRC belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 44 individual stocks and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 104.28% so far this year, so RRC is performing better in this area.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to RRC as it looks to continue its solid performance.
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