Investors focused on the Oils-Energy space have likely heard of Northern Oil and Gas (NOG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Northern Oil and Gas is a member of our Oils-Energy group, which includes 328 different companies and currently sits at #1 in the Zacks Sector Rank. 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 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. NOG is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NOG's full-year earnings has moved 45.75% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NOG has returned 66.83% so far this year. In comparison, Oils-Energy companies have returned an average of 6.38%. This means that Northern Oil and Gas is outperforming the sector as a whole this year.
Looking more specifically, NOG belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 74 individual stocks and currently sits at #43 in the Zacks Industry Rank. On average, stocks in this group have gained 7.13% this year, meaning that NOG is performing better in terms of year-to-date returns.
NOG will likely be looking to continue its solid performance, so investors interested Oils-Energy stocks should continue to pay close attention to the company.