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 Flotek Industries (FTK) one of those stocks right now? 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.
Flotek Industries is a member of the Oils-Energy sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #14. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Flotek Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FTK's full-year earnings has moved 9.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FTK has returned about 6.5% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of -6.8%. This means that Flotek Industries is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, Gulfport Energy (GPOR), has outperformed the sector so far this year. The stock's year-to-date return is 2.9%.
Over the past three months, Gulfport Energy's consensus EPS estimate for the current year has increased 36.9%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Flotek Industries belongs to the Oil and Gas - Field Services industry, which includes 23 individual stocks and currently sits at #143 in the Zacks Industry Rank. On average, stocks in this group have lost 17% this year, meaning that FTK is performing better in terms of year-to-date returns.
On the other hand, Gulfport Energy belongs to the Oil and Gas - Exploration and Production - United States industry. This 36-stock industry is currently ranked #165. The industry has moved -28% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Flotek Industries and Gulfport Energy as they could maintain their solid performance.
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Flotek Industries, Inc. (FTK): Free Stock Analysis Report Gulfport Energy Corporation (GPOR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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