Is Crescent Point Energy (CPG) Stock Outpacing Its Oils-Energy Peers This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Crescent Point Energy (CPG) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Crescent Point Energy is one of 255 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 85.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CPG has returned 33.3% so far this year. In comparison, Oils-Energy companies have returned an average of 18.6%. This means that Crescent Point Energy is performing better than its sector in terms of year-to-date returns.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Antero Resources (AR). The stock has returned 75.1% year-to-date.
Over the past three months, Antero Resources' consensus EPS estimate for the current year has increased 94.6%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Crescent Point Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 6 individual stocks and currently sits at #50 in the Zacks Industry Rank. Stocks in this group have gained about 29.3% so far this year, so CPG is performing better this group in terms of year-to-date returns.
Antero Resources, however, belongs to the Oil and Gas - Exploration and Production - United States industry. Currently, this 41-stock industry is ranked #27. The industry has moved +27% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on Crescent Point Energy and Antero Resources as they attempt to continue their solid performance.
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