For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Drilling Tools International Corp. (DTI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Drilling Tools International Corp. is a member of the Oils-Energy sector. This group includes 234 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. Drilling Tools International Corp. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DTI's full-year earnings has moved 26.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DTI has returned about 49% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 21.8% on average. This means that Drilling Tools International Corp. is performing better than its sector in terms of year-to-date returns.
Enerflex (EFXT) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 42.8%.
In Enerflex's case, the consensus EPS estimate for the current year increased 27.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Drilling Tools International Corp. belongs to the Oil and Gas - Field Services industry, a group that includes 19 individual companies and currently sits at #39 in the Zacks Industry Rank. This group has gained an average of 31.7% so far this year, so DTI is performing better in this area.
Enerflex, however, belongs to the Alternative Energy - Other industry. Currently, this 46-stock industry is ranked #151. The industry has moved +16.6% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Drilling Tools International Corp. and Enerflex. These stocks will be looking to continue their solid performance.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Drilling Tools International Corp. (DTI): Free Stock Analysis Report
Enerflex Ltd. (EFXT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).