Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Forum Energy Technologies (FET) 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.
Forum Energy Technologies is one of 251 companies in the Oils-Energy group. The Oils-Energy group currently sits at #9 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. Forum Energy Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FET's full-year earnings has moved 85.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, FET has returned 117.3% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 32.3% on a year-to-date basis. This means that Forum Energy Technologies is performing better than its sector in terms of year-to-date returns.
Another Oils-Energy stock, which has outperformed the sector so far this year, is National Energy Services Reunited (NESR). The stock has returned 121.9% year-to-date.
For National Energy Services Reunited, the consensus EPS estimate for the current year has increased 10.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Forum Energy Technologies belongs to the Oil and Gas - Mechanical and and Equipment industry, a group that includes 12 individual companies and currently sits at #167 in the Zacks Industry Rank. Stocks in this group have gained about 42.2% so far this year, so FET is performing better this group in terms of year-to-date returns. National Energy Services Reunited is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Forum Energy Technologies and National Energy Services Reunited as they could maintain their solid performance.
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Forum Energy Technologies, Inc. (FET): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).