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Investors focused on the Oils-Energy space have likely heard of Ring Energy (REI), but is the stock performing well in comparison to the rest of its sector peers? 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 one of 296 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #8 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. REI 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 14.15% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that REI has returned about 3.41% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 0.31% on a year-to-date basis. This means that Ring Energy is performing better than its sector in terms of year-to-date returns.
Looking more specifically, REI belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 69 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, this group has lost an average of 0.28% so far this year, meaning that REI is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to REI as it looks to continue its solid performance.
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