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 one of 245 companies in the Oils-Energy group. The Oils-Energy group currently sits at #16 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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FTK's full-year earnings has moved 19.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that FTK has returned about 53.8% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 1% on average. As we can see, Flotek Industries is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Gibson Energy Inc. (GBNXF). The stock has returned 3.6% year-to-date.
For Gibson Energy Inc., the consensus EPS estimate for the current year has increased 1.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Flotek Industries belongs to the Oil and Gas - Field Services industry, a group that includes 23 individual stocks and currently sits at #187 in the Zacks Industry Rank. On average, stocks in this group have lost 11.9% this year, meaning that FTK is performing better in terms of year-to-date returns.
Gibson Energy Inc., however, belongs to the Oil and Gas - Integrated - Canadian industry. Currently, this 4-stock industry is ranked #39. The industry has moved +0.4% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on Flotek Industries and Gibson Energy Inc. as they attempt to continue their solid performance.
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Flotek Industries, Inc. (FTK): Free Stock Analysis Report Gibson Energy Inc. (GBNXF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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