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Looking for a Growth Stock? Why It is Time to Focus on CNOOC (CEO)

Zacks Equity Research
Updated

Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.

One such company that might be well-positioned for future earnings growth is CNOOC Limited CEO. This firm, which is in the Oil and Gas - Integrated - Emerging Markets industry, saw a significant EPS growth last year, and is looking great for this year too.

In fact, the current growth estimate for this year calls for earnings-per-share growth of 112.2%. Furthermore, the long-term growth rate is currently an impressive 25%, suggesting pretty good prospects for the long haul.

CNOOC Limited Price and Consensus

CNOOC Limited Price and Consensus | CNOOC Limited Quote

And if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 4.3%. Thanks to this rise in earnings estimates, CEO has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a fast-growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider CEO. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for CEO as well.

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Zacks Investment Research