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Has Diamondback Energy (FANG) Outpaced Other Oils-Energy Stocks This Year?
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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Diamondback Energy (FANG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of FANG and the rest of the Oils-Energy group's stocks.
Diamondback Energy is one of 251 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #7 in 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 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. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FANG's full-year earnings has moved 74.57% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FANG has returned about 69.44% since the start of the calendar year. At the same time, Oils-Energy stocks have gained an average of 25.15%. This means that Diamondback Energy is outperforming the sector as a whole this year.
To break things down more, FANG belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 46 individual companies and currently sits at #67 in the Zacks Industry Rank. This group has gained an average of 58.21% so far this year, so FANG is performing better in this area.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to FANG as it looks to continue its solid performance.
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Has Diamondback Energy (FANG) Outpaced Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Diamondback Energy (FANG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of FANG and the rest of the Oils-Energy group's stocks.
Diamondback Energy is one of 251 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #7 in 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 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. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FANG's full-year earnings has moved 74.57% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FANG has returned about 69.44% since the start of the calendar year. At the same time, Oils-Energy stocks have gained an average of 25.15%. This means that Diamondback Energy is outperforming the sector as a whole this year.
To break things down more, FANG belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 46 individual companies and currently sits at #67 in the Zacks Industry Rank. This group has gained an average of 58.21% so far this year, so FANG is performing better in this area.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to FANG as it looks to continue its solid performance.