The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Flotek Industries (FTK) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Flotek Industries is one of 245 companies in the Oils-Energy group. The Oils-Energy group currently sits at #13 within 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 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. Flotek Industries is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FTK's full-year earnings has moved 4.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, FTK has gained about 69.9% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 5.9% on a year-to-date basis. This means that Flotek Industries is outperforming the sector as a whole this year.
OMV AG (OMVKY) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 39.7%.
Over the past three months, OMV AG's consensus EPS estimate for the current year has increased 0.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Flotek Industries is a member of the Oil and Gas - Field Services industry, which includes 23 individual companies and currently sits at #160 in the Zacks Industry Rank. On average, this group has gained an average of 4.5% so far this year, meaning that FTK is performing better in terms of year-to-date returns.
In contrast, OMV AG falls under the Oil and Gas - Integrated - International industry. Currently, this industry has 17 stocks and is ranked #184. Since the beginning of the year, the industry has moved +7.8%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Flotek Industries and OMV AG as they could maintain their solid performance.
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Flotek Industries, Inc. (FTK): Free Stock Analysis Report OMV AG (OMVKY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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