Back to top

Momentum

Complete Production Services, Inc. (CPX) just jumped into a new all-time high after reporting awesome Q2 results that came in well ahead of expectations. With estimates on the rise and a bullish growth projection, this Zacks #1 rank stock has some serious momentum.

Company Description

Complete Production Services, Inc. operates as an oil-field services provider primarily in North America. The company was founded in 2001 and has a market cap of $3.16 billion.

CPX has been trending higher for most of the last year, but shares just got an extra boost after the company reported excellent Q2 results that came in well ahead of expectations.

Second-Quarter Results

Revenue for the period was up 11% from last year to $552 million. Earnings also looked great, coming in at 69 cents, 8% ahead of the Zacks Consensus Estimate.

The company noted that it continues to benefit from the bullish trend in North American on-shore exploration and production activities being driven by $100 crude. CPX also said it sees that cycle continuing into 2012.

Financial Profile

CPX's total debt load of $650 million held steady from last year, but its cash position saw a big gain, climbing $44 million to $171 million.

Estimates

Although we haven't seen many estimates revisions hit the wire, the current year is up 3 cents in the last month to $2.73, while the next-year estimate gained 14 cents to $3.45, a bullish 26% growth projection.

Valuation

But in spite of the gains, the valuation picture still looks solid, with a PEG ratio of .54 far below the benchmark for value of 1.

12-Month Chart

On the chart, CPX surged into a new all-time high on the good quarter. Look for support from the trend line on any weakness. Take a look below.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
ERBA DIAGNO… ERB 3.71 +4.51%
BANCO DO BR… BDORY 14.49 +3.87%
WEATHERFORD… WFT 23.79 +3.73%
EQT MIDSTRE… EQM 97.64 +2.85%
GREEN PLAIN… GPRE 44.97 +2.65%