The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Callon Petroleum (CPE) one of those stocks right now? 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.
Callon Petroleum is one of 249 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. CPE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CPE's full-year earnings has moved 39.92% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CPE has gained about 271.35% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 31.18% on a year-to-date basis. This means that Callon Petroleum is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CPE belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 44 individual stocks and currently sits at #101 in the Zacks Industry Rank. Stocks in this group have gained about 88.03% so far this year, so CPE is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to CPE as it looks to continue its solid performance.
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