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Okea ASA (OSTO:OKEA) Momentum Rank : 0 (As of May. 22, 2024)


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What is Okea ASA Momentum Rank?

Okea ASA 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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Okea ASA (OSTO:OKEA) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Okea ASA (OSTO:OKEA) » Definitions » Momentum Rank
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OSL:SEAPT OSL:PEN OSL:PNOR OSL:BWE OSL:IOX OSL:DNO OSL:BNOR COP HKSE:00883 EOG TSX:CNQ PXD OXY MIC:NVTK HES ASX:WDS DVN FANG CTRA BKK:PTTEP
Traded in Other Exchanges
OKEA:Norway OKEAo:UK 3SX:Germany
Address
Kongens Gate 8, Trondheim, NOR, 7011
Website
https://www.okea.no
Okea ASA is an independent oil producer. The company's only reportable segment is the development and production of oil and gas on the Norwegian Continental Shelf. Its operation includes Draugen Field, Gjoa Field, Ivar Aasen, Grevling and Yme.

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