Are Oils-Energy Stocks Lagging Crescent Point Energy (CPG) 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. 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 249 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Crescent Point Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CPG's full-year earnings has moved 6.6% 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 4.1% so far this year. Meanwhile, stocks in the Oils-Energy group have lost about 1.9% on average. This shows that Crescent Point Energy is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is MPLX LP (MPLX). The stock has returned 5.2% year-to-date.
In MPLX LP's case, the consensus EPS estimate for the current year increased 1.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Crescent Point Energy belongs to the Oil and Gas - Exploration and Production - Canadian industry, a group that includes 8 individual companies and currently sits at #88 in the Zacks Industry Rank. Stocks in this group have lost about 8.3% so far this year, so CPG is performing better this group in terms of year-to-date returns.
MPLX LP, however, belongs to the Oil and Gas - Production and Pipelines industry. Currently, this 12-stock industry is ranked #126. The industry has moved +3.8% so far this year.
Crescent Point Energy and MPLX LP could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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