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Is ONEOK (OKE) Stock Outpacing Its Oils-Energy Peers This Year?
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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Oneok Inc. (OKE - 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.
Oneok Inc. is a member of our Oils-Energy group, which includes 248 different companies and currently sits at #13 in 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 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. Oneok Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for OKE's full-year earnings has moved 5.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, OKE has gained about 5.2% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 1.4% on average. This means that Oneok Inc. is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is RPC (RES - Free Report) . The stock is up 5.5% year-to-date.
In RPC's case, the consensus EPS estimate for the current year increased 51.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Oneok Inc. belongs to the Oil and Gas - Production Pipeline - MLB industry, which includes 9 individual stocks and currently sits at #165 in the Zacks Industry Rank. This group has gained an average of 9% so far this year, so OKE is slightly underperforming its industry in this area.
On the other hand, RPC belongs to the Oil and Gas - Field Services industry. This 23-stock industry is currently ranked #78. The industry has moved +3% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Oneok Inc. and RPC as they attempt to continue their solid performance.
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Is ONEOK (OKE) Stock Outpacing Its Oils-Energy Peers This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Oneok Inc. (OKE - 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.
Oneok Inc. is a member of our Oils-Energy group, which includes 248 different companies and currently sits at #13 in 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 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. Oneok Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for OKE's full-year earnings has moved 5.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, OKE has gained about 5.2% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 1.4% on average. This means that Oneok Inc. is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is RPC (RES - Free Report) . The stock is up 5.5% year-to-date.
In RPC's case, the consensus EPS estimate for the current year increased 51.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Oneok Inc. belongs to the Oil and Gas - Production Pipeline - MLB industry, which includes 9 individual stocks and currently sits at #165 in the Zacks Industry Rank. This group has gained an average of 9% so far this year, so OKE is slightly underperforming its industry in this area.
On the other hand, RPC belongs to the Oil and Gas - Field Services industry. This 23-stock industry is currently ranked #78. The industry has moved +3% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Oneok Inc. and RPC as they attempt to continue their solid performance.