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Is Nine Energy Service (NINE) Stock Outpacing Its Oils-Energy Peers This Year?
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Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Nine Energy Service (NINE - 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? 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.
Nine Energy Service is one of 246 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Nine Energy Service is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NINE's full-year earnings has moved 1325% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, NINE has gained about 1133% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 38.9% on a year-to-date basis. As we can see, Nine Energy Service is performing better than its sector in the calendar year.
Schlumberger (SLB - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 75.6%.
Over the past three months, Schlumberger's consensus EPS estimate for the current year has increased 6.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Nine Energy Service belongs to the Oil and Gas - Field Services industry, which includes 25 individual stocks and currently sits at #28 in the Zacks Industry Rank. On average, stocks in this group have gained 59.6% this year, meaning that NINE is performing better in terms of year-to-date returns. Schlumberger is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Nine Energy Service and Schlumberger as they could maintain their solid performance.
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Is Nine Energy Service (NINE) Stock Outpacing Its Oils-Energy Peers This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Nine Energy Service (NINE - 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? 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.
Nine Energy Service is one of 246 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Nine Energy Service is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NINE's full-year earnings has moved 1325% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, NINE has gained about 1133% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 38.9% on a year-to-date basis. As we can see, Nine Energy Service is performing better than its sector in the calendar year.
Schlumberger (SLB - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 75.6%.
Over the past three months, Schlumberger's consensus EPS estimate for the current year has increased 6.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Nine Energy Service belongs to the Oil and Gas - Field Services industry, which includes 25 individual stocks and currently sits at #28 in the Zacks Industry Rank. On average, stocks in this group have gained 59.6% this year, meaning that NINE is performing better in terms of year-to-date returns. Schlumberger is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Nine Energy Service and Schlumberger as they could maintain their solid performance.