New Zack report on cpg For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Crescent Point Energy (CPG) one of those stocks right now? 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.
Crescent Point Energy is one of 249 companies in the Oils-Energy group. The Oils-Energy group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Crescent Point Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CPG's full-year earnings has moved 11% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CPG has gained about 13.1% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 5.2% on average. This shows that Crescent Point Energy is outperforming its peers so far this year.
Another stock in the Oils-Energy sector, Saipem (SAPMF), has outperformed the sector so far this year. The stock's year-to-date return is 46.6%.
Over the past three months, Saipem's consensus EPS estimate for the current year has increased 18.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Crescent Point Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 8 individual stocks and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have gained about 12.7% so far this year, so CPG is performing better this group in terms of year-to-date returns.
Saipem, however, belongs to the Oil and Gas - Drilling industry. Currently, this 12-stock industry is ranked #215. The industry has moved +2.3% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on Crescent Point Energy and Saipem as they attempt to continue their solid performance.