Heritage Oil (LSE:0PZU) Momentum Rank : 0 (As of Jun. 09, 2024)

View and export this data going back to . Start your Free Trial

What is Heritage Oil Momentum Rank?

Heritage Oil has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Heritage Oil Momentum Rank Related Terms

Thank you for viewing the detailed overview of Heritage Oil's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Heritage Oil (LSE:0PZU) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Heritage Oil PLC (LSE:0PZU) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.heritageoilplc.com

Heritage Oil PLC was incorporated under the Jersey Companies Law on 6 February 2008 as Heritage Oil Limited. The Company changed its name to Heritage Oil Plc on 18 June 2009. The Company is an independent international oil and gas company. The Company is engaged in the exploration, development and production of petroleum and natural gas in Africa, the Middle East and Russia. The Company has exploration projects in Nigeria, Russia, Tanzania, Papua New Guinea, Malta, Pakistan and Libya. The Company has producing assets in Nigeria and Russia and exploration assets in Tanzania, Papua New Guinea, Malta, Libya and Pakistan.

Heritage Oil (LSE:0PZU) Headlines

No Headlines