U.S. markets close in 5 hours 54 minutes
  • S&P 500

    4,120.26
    -19.80 (-0.48%)
     
  • Dow 30

    32,776.28
    -56.26 (-0.17%)
     
  • Nasdaq

    12,476.35
    -168.11 (-1.33%)
     
  • Russell 2000

    1,930.69
    -10.51 (-0.54%)
     
  • Crude Oil

    91.84
    +1.08 (+1.19%)
     
  • Gold

    1,814.40
    +9.20 (+0.51%)
     
  • Silver

    20.54
    -0.07 (-0.36%)
     
  • EUR/USD

    1.0242
    +0.0047 (+0.46%)
     
  • 10-Yr Bond

    2.8030
    +0.0380 (+1.37%)
     
  • GBP/USD

    1.2109
    +0.0028 (+0.23%)
     
  • USD/JPY

    134.9790
    +0.0060 (+0.00%)
     
  • BTC-USD

    23,102.53
    -1,061.24 (-4.39%)
     
  • CMC Crypto 200

    536.25
    -21.10 (-3.79%)
     
  • FTSE 100

    7,495.86
    +13.49 (+0.18%)
     
  • Nikkei 225

    27,999.96
    -249.28 (-0.88%)
     

Has Ring Energy (REI) Outpaced Other Oils-Energy Stocks This Year?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Ring Energy (REI) 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.

Ring Energy is a member of the Oils-Energy sector. This group includes 256 individual stocks and currently holds a Zacks Sector Rank of #2. 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. Ring Energy is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for REI's full-year earnings has moved 13.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, REI has returned 28.1% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 15.3% on average. This shows that Ring Energy is outperforming its peers so far this year.

Another Oils-Energy stock, which has outperformed the sector so far this year, is RPC (RES). The stock has returned 75.8% year-to-date.

The consensus estimate for RPC's current year EPS has increased 35.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Ring Energy is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 42 individual companies and currently sits at #54 in the Zacks Industry Rank. On average, stocks in this group have gained 18.5% this year, meaning that REI is performing better in terms of year-to-date returns.

On the other hand, RPC belongs to the Oil and Gas - Field Services industry. This 28-stock industry is currently ranked #73. The industry has moved +3.5% year to date.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Ring Energy and RPC as they could maintain their solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Ring Energy, Inc. (REI) : Free Stock Analysis Report
 
RPC, Inc. (RES) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.