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Has Nabors Industries (NBR) Outpaced Other Oils-Energy Stocks This Year?
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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Nabors Industries (NBR - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Nabors Industries is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the 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 0.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, NBR has moved about 65.3% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 24.5% on a year-to-date basis. As we can see, Nabors Industries is performing better than its sector in the calendar year.
Enphase Energy (ENPH - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 49.9%.
The consensus estimate for Enphase Energy's current year EPS has increased 3.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Nabors Industries belongs to the Oil and Gas - Drilling industry, a group that includes 7 individual companies and currently sits at #35 in the Zacks Industry Rank. On average, this group has gained an average of 39.5% so far this year, meaning that NBR is performing better in terms of year-to-date returns.
On the other hand, Enphase Energy belongs to the Solar industry. This 17-stock industry is currently ranked #39. The industry has moved +14.1% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Nabors Industries and Enphase Energy as they attempt to continue their solid performance.
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Has Nabors Industries (NBR) Outpaced Other Oils-Energy Stocks This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Nabors Industries (NBR - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Nabors Industries is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the 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 0.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, NBR has moved about 65.3% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 24.5% on a year-to-date basis. As we can see, Nabors Industries is performing better than its sector in the calendar year.
Enphase Energy (ENPH - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 49.9%.
The consensus estimate for Enphase Energy's current year EPS has increased 3.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Nabors Industries belongs to the Oil and Gas - Drilling industry, a group that includes 7 individual companies and currently sits at #35 in the Zacks Industry Rank. On average, this group has gained an average of 39.5% so far this year, meaning that NBR is performing better in terms of year-to-date returns.
On the other hand, Enphase Energy belongs to the Solar industry. This 17-stock industry is currently ranked #39. The industry has moved +14.1% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Nabors Industries and Enphase Energy as they attempt to continue their solid performance.