Reconnaissance Energy Africa (STU:0XD) Momentum Rank : 7 (As of Dec. 14, 2024)

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What is Reconnaissance Energy Africa Momentum Rank?

Reconnaissance Energy Africa has the Momentum Rank of 7.

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.

Competitive Comparison of Reconnaissance Energy Africa's Momentum Rank

For the Oil & Gas E&P subindustry, Reconnaissance Energy Africa's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Reconnaissance Energy Africa's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Reconnaissance Energy Africa's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Reconnaissance Energy Africa's Momentum Rank falls into.

Reconnaissance Energy Africa Momentum Rank Related Terms

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Reconnaissance Energy Africa Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Reconnaissance Energy Africa Ltd (STU:0XD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

RECAF:USA 0XD:Germany RECO:Canada

Address

Bentall, PO Box 48326, Vancouver, BC, CAN, V7X 1A1

Website

https://www.reconafrica.com

Reconnaissance Energy Africa Ltd is a junior oil and gas company engaged in the exploration and development of oil and gas in Namibia and Botswana. It holds a substantial interest in a petroleum exploration license in northeast Namibia which covers the entire Kavango sedimentary basin. The Company's operating segments are: the exploration and evaluation of its African assets; the oil and gas operations in Mexico; and the corporate segment. The Mexico segment derives its revenues solely from the production and sale of oil and natural gas from one customer. The corporate segment majorly aggregates costs incurred at the Company's head office in Vancouver and the operations office in Calgary.

Reconnaissance Energy Africa Headlines

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