Here is how Nabors Industries (NBR) and Crescent Energy (CRGY) have performed compared to their sector so far this year.
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies 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 one of 240 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 90 days, the Zacks Consensus Estimate for NBR's full-year earnings has moved 23.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, NBR has moved about 47.3% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 30.8%. This shows that Nabors Industries is outperforming its peers so far this year.
Crescent Energy (CRGY) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 60.2%.
For Crescent Energy, the consensus EPS estimate for the current year has increased 27.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Nabors Industries belongs to the Oil and Gas - Drilling industry, a group that includes 8 individual stocks and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 59.9% so far this year, meaning that NBR is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Crescent Energy belongs to the Alternative Energy - Other industry. This 51-stock industry is currently ranked #73. The industry has moved +15.3% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Nabors Industries and Crescent Energy as they could maintain their solid performance.
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