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Has Diamondback Energy (FANG) Outpaced Other Oils-Energy Stocks This Year?
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Investors focused on the Oils-Energy space have likely heard of Diamondback Energy (FANG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Diamondback Energy is one of 255 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FANG's full-year earnings has moved 8.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, FANG has returned 136.47% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 38.27% on a year-to-date basis. 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 43 individual companies and currently sits at #4 in the Zacks Industry Rank. On average, this group has gained an average of 116.06% so far this year, meaning that FANG is performing better in terms of year-to-date returns.
FANG will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.
View the Zacks #1 Rank List
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Has Diamondback Energy (FANG) Outpaced Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of Diamondback Energy (FANG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Diamondback Energy is one of 255 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FANG's full-year earnings has moved 8.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, FANG has returned 136.47% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 38.27% on a year-to-date basis. 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 43 individual companies and currently sits at #4 in the Zacks Industry Rank. On average, this group has gained an average of 116.06% so far this year, meaning that FANG is performing better in terms of year-to-date returns.
FANG will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.