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Has New Fortress Energy (NFE) Outpaced Other Oils-Energy Stocks This Year?

Zacks Equity Research
·2-min read

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has New Fortress Energy (NFE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

New Fortress Energy is one of 256 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in 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 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. New Fortress Energy is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for NFE's full-year earnings has moved 58.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, NFE has returned 86% so far this year. In comparison, Oils-Energy companies have returned an average of 36.2%. As we can see, New Fortress Energy is performing better than its sector in the calendar year.

Another stock in the Oils-Energy sector, Delek US Holdings (DK), has outperformed the sector so far this year. The stock's year-to-date return is 92.4%.

Over the past three months, Delek US Holdings' consensus EPS estimate for the current year has increased 1430.9%. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, New Fortress Energy belongs to the Oil and Gas - Integrated - International industry, a group that includes 16 individual stocks and currently sits at #57 in the Zacks Industry Rank. On average, stocks in this group have gained 42.1% this year, meaning that NFE is performing better in terms of year-to-date returns.

Delek US Holdings, however, belongs to the Oil and Gas - Refining and Marketing industry. Currently, this 14-stock industry is ranked #18. The industry has moved +37.3% so far this year.

New Fortress Energy and Delek US Holdings 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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New Fortress Energy LLC (NFE) : Free Stock Analysis Report
 
Delek US Holdings, Inc. (DK) : Free Stock Analysis Report
 
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