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 Nabors Industries (NBR) been one of those stocks this year? A quick glance at the company’s year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Nabors Industries is a member of the Oils-Energy sector. This group includes 248 individual stocks and currently holds a Zacks Sector Rank of #14. 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 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. Nabors Industries is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NBR’s full-year earnings has moved 1.1% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the latest available data, NBR has gained about 10.1% so far this year. Meanwhile, the Oils-Energy sector has returned an average of -1.1% on a year-to-date basis. This means that Nabors Industries is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Par Petroleum (PARR). The stock has returned 12.2% year-to-date.
For Par Petroleum, the consensus EPS estimate for the current year has increased 258.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Nabors Industries is a member of the Oil and Gas – Drilling industry, which includes 8 individual companies and currently sits at #12 in the Zacks Industry Rank. This group has gained an average of 10% so far this year, so NBR is performing better in this area.
Par Petroleum, however, belongs to the Oil and Gas – Refining and Marketing industry. Currently, this 16-stock industry is ranked #35. The industry has moved -6% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Nabors Industries and Par Petroleum. These stocks will be looking to continue their solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
