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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. FMC Technologies (FTI) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
FMC Technologies is one of 250 companies in the Oils-Energy group. The Oils-Energy group currently sits at #12 within the Zacks Sector Rank. 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 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. FMC Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FTI's full-year earnings has moved 6.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, FTI has returned 9.5% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 6.2% on average. This means that FMC Technologies is performing better than its sector in terms of year-to-date returns.
One other Oils-Energy stock that has outperformed the sector so far this year is Granite Ridge Resources, Inc. (GRNT). The stock is up 6.7% year-to-date.
For Granite Ridge Resources, Inc. the consensus EPS estimate for the current year has increased 7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, FMC Technologies is a member of the Oil and Gas - Field Services industry, which includes 22 individual companies and currently sits at #216 in the Zacks Industry Rank. This group has lost an average of 5.1% so far this year, so FTI is performing better in this area.
In contrast, Granite Ridge Resources, Inc. falls under the Oil and Gas - Exploration and Production - United States industry. Currently, this industry has 34 stocks and is ranked #160. Since the beginning of the year, the industry has moved +12.5%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to FMC Technologies and Granite Ridge Resources, Inc. as they could maintain their solid performance.