For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. ProFrac Holding Corp. (ACDC) 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? 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.
ProFrac Holding Corp. is one of 240 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. ProFrac Holding Corp. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACDC's full-year earnings has moved 6.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ACDC has moved about 50.4% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 26.3% on average. This means that ProFrac Holding Corp. is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, California Resources Corporation (CRC), has outperformed the sector so far this year. The stock's year-to-date return is 42.5%.
The consensus estimate for California Resources Corporation's current year EPS has increased 90.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, ProFrac Holding Corp. belongs to the Oil and Gas - Field Services industry, a group that includes 19 individual stocks and currently sits at #35 in the Zacks Industry Rank. This group has gained an average of 37.8% so far this year, so ACDC is performing better in this area.
In contrast, California Resources Corporation falls under the Oil and Gas - Exploration and Production - United States industry. Currently, this industry has 35 stocks and is ranked #22. Since the beginning of the year, the industry has moved +24.4%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to ProFrac Holding Corp. and California Resources Corporation as they could maintain their solid performance.
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ProFrac Holding Corp. (ACDC): Free Stock Analysis Report
California Resources Corporation (CRC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).