Xstate Resources (Xstate Resources) Momentum Rank : 0 (As of Jun. 09, 2024)

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What is Xstate Resources Momentum Rank?

Xstate Resources 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.

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Xstate Resources (Xstate Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Xstate Resources Ltd (OTCPK:XSTLF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

XST:Australia

Address

Level 1, 31 Cliff Street, Fremantle, WA, AUS, 6160

Website

https://www.xstateresources.com.au

Xstate Resources Ltd is engaged in oil and gas exploration. The Group currently operates in three operating segments: (i) Oil & gas exploration activities on-shore the United States of America, (ii) Oil & gas exploration activities on-shore Austria, and (iii) Oil & gas production activities on-shore Canada. It holds various working interests in a small number of producing gas wells and, more importantly, associated land leases and production and pipeline access equipment in the Sacramento Basin, California.

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