Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Magnolia Oil & Gas Corp (MGY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Magnolia Oil & Gas Corp is a member of the Oils-Energy sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Magnolia Oil & Gas Corp is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MGY's full-year earnings has moved 59% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MGY has gained about 35.5% so far this year. In comparison, Oils-Energy companies have returned an average of 27.4%. This means that Magnolia Oil & Gas Corp is outperforming the sector as a whole this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Archrock Inc. (AROC). The stock has returned 37.9% year-to-date.
For Archrock Inc., the consensus EPS estimate for the current year has increased 9.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Magnolia Oil & Gas Corp belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 35 individual companies and currently sits at #36 in the Zacks Industry Rank. On average, stocks in this group have gained 28.1% this year, meaning that MGY is performing better in terms of year-to-date returns.
In contrast, Archrock Inc. falls under the Oil and Gas - Field Services industry. Currently, this industry has 19 stocks and is ranked #51. Since the beginning of the year, the industry has moved +40.2%.
Magnolia Oil & Gas Corp and Archrock Inc. 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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This article originally published on Zacks Investment Research (zacks.com).