For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Denbury Resources (DNR - 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 DNR and the rest of the Oils-Energy group's stocks.
Denbury Resources is a member of the Oils-Energy sector. This group includes 331 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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. DNR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DNR's full-year earnings has moved 26.09% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DNR has returned 199.10% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 10.58% on a year-to-date basis. This means that Denbury Resources is outperforming the sector as a whole this year.
Looking more specifically, DNR belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 79 individual stocks and currently sits at #96 in the Zacks Industry Rank. Stocks in this group have gained about 7.16% so far this year, so DNR is performing better this group in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track DNR. The stock will be looking to continue its solid performance.