Despite the Energy Select Sector SPDR ETF (XLE) losing 3% year to date, versus the Russell 1000's 4% gain, names in the energy sector have rallied even in this tough macroeconomic environment. Tanker companies like TORM PLC (TRMD) and Teekay Tankers Ltd. (TNK), up 12% and 52% this year, respectively, have performed especially well, thanks to some of the highest tanker rates ever recorded.
The average of price targets set by Wall Street analysts indicates a potential upside of 61.6% in Vertex Energy (VTNR). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.