Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Forum Energy Technologies (FET) been one of those stocks this year? 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 a member of the Oils-Energy sector. This group includes 252 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. Forum Energy Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FET's full-year earnings has moved 6.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, FET has returned 27.2% so far this year. In comparison, Oils-Energy companies have returned an average of 17.9%. As we can see, Forum Energy Technologies is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Par Petroleum (PARR). The stock has returned 66.5% year-to-date.
For Par Petroleum, the consensus EPS estimate for the current year has increased 98.8% over the past three months. The stock currently has a Zacks Rank #2 (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 #198 in the Zacks Industry Rank. Stocks in this group have gained about 24.8% so far this year, so FET is performing better this group in terms of year-to-date returns.
In contrast, Par Petroleum falls under the Oil and Gas - Refining and Marketing industry. Currently, this industry has 16 stocks and is ranked #50. Since the beginning of the year, the industry has moved +35.9%.
Forum Energy Technologies and Par Petroleum could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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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).