For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. NCS Multistage (NCSM) 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? Let's take a closer look at the stock's year-to-date performance to find out.
NCS Multistage is one of 234 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. NCS Multistage is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NCSM's full-year earnings has moved 7.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that NCSM has returned about 84.1% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 32.2% on a year-to-date basis. This means that NCS Multistage is outperforming the sector as a whole this year.
Another stock in the Oils-Energy sector, Eni SpA (E), has outperformed the sector so far this year. The stock's year-to-date return is 42%.
The consensus estimate for Eni SpA's current year EPS has increased 36.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, NCS Multistage belongs to the Oil and Gas - Field Services industry, which includes 19 individual stocks and currently sits at #32 in the Zacks Industry Rank. Stocks in this group have gained about 40.3% so far this year, so NCSM is performing better this group in terms of year-to-date returns.
Eni SpA, however, belongs to the Oil and Gas - Integrated - International industry. Currently, this 16-stock industry is ranked #40. The industry has moved +35.8% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track NCS Multistage and Eni SpA. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).