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Is Ovintiv (OVV) Outperforming Other Oils-Energy Stocks This Year?
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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Ovintiv (OVV - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Ovintiv is a member of our Oils-Energy group, which includes 251 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. OVV is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OVV's full-year earnings has moved 257.82% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, OVV has gained about 76.11% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 19.11% on average. This means that Ovintiv is outperforming the sector as a whole this year.
To break things down more, OVV belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 6 individual companies and currently sits at #21 in the Zacks Industry Rank. On average, this group has gained an average of 34.11% so far this year, meaning that OVV is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on OVV as it attempts to continue its solid performance.
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Is Ovintiv (OVV) Outperforming Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Ovintiv (OVV - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Ovintiv is a member of our Oils-Energy group, which includes 251 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. OVV is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OVV's full-year earnings has moved 257.82% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, OVV has gained about 76.11% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 19.11% on average. This means that Ovintiv is outperforming the sector as a whole this year.
To break things down more, OVV belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 6 individual companies and currently sits at #21 in the Zacks Industry Rank. On average, this group has gained an average of 34.11% so far this year, meaning that OVV is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on OVV as it attempts to continue its solid performance.