Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Crescent Point Energy (CPG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Crescent Point Energy is a member of the Oils-Energy sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #14. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 0.8% 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 27% so far this year. At the same time, Oils-Energy stocks have gained an average of 12%. This means that Crescent Point Energy is performing better than its sector in terms of year-to-date returns.
One other Oils-Energy stock that has outperformed the sector so far this year is Valero Energy (VLO). The stock is up 41.1% year-to-date.
The consensus estimate for Valero Energy's current year EPS has increased 14.3% over the past three months. 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, which includes 10 individual stocks and currently sits at #34 in the Zacks Industry Rank. On average, this group has gained an average of 24.4% so far this year, meaning that CPG is performing better in terms of year-to-date returns.
Valero Energy, however, belongs to the Oil and Gas - Refining and Marketing industry. Currently, this 15-stock industry is ranked #65. The industry has moved +15.6% so far this year.
Crescent Point Energy and Valero Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.