IBD Screen Of The Day: Oil Companies Break Out But Keep An Eye On This Insurer

In today's IBD Screen of the Day, the focus is on global leaders whose stocks are traded in the U.S. Several oil, mining, financial and shipping companies make this list, especially as geopolitical turmoil has increased. Here are two oil stocks and one insurer near buy points.

Ecopetrol is a Colombian oil company that is breaking above a three-weeks-tight pattern with an 18.29 buy point. Like other companies in its industry, Ecopetrol has benefited from the rise in global oil prices and from the war between Russia and Ukraine.

The stock is an American depositary receipt (ADR), which means it meets SEC guidelines for U.S. listing. The shares are also trading above their 21-day exponential moving average and 50-day moving average.

Ecopetrol is scheduled to release earnings on May 4. FactSet data says analysts expect earnings of 89 cents a share on sales of $8.8 billion in the first quarter.

The stock is ranked No. 8 out of 22 companies in IBD's Oil & Gas-Integrated industry group, which itself is ranked No. 8 out of 197 industry groups. It has a Composite Rating of 98 and a Relative Strength Rating of 96.

Hot Stock Is In Its Buy Range

Energy giant Shell is in its buy range from a 56.23 buy point of a base on base. The ADR shares formed a flat base after completing a cup base, according to MarketSmith.

As energy prices soar, so has the company's growth. Full-year EPS is projected at an impressive $8.78 vs. $4.98 in 2021, according to MarketSmith. Strong growth has helped lift Shell's IBD Composite Rating to 98. It shares the No. 8 ranking with Ecopetrol in its industry group.

Netherlands-based Shell will report first-quarter earnings on May 5, with EPS estimated at $1.84 and revenue of $80.4 billion, according to FactSet.

Arch Capital is just shy of a 49.25 entry from a first-stage flat base.

The company is slated to release first-quarter results the afternoon of April 27. The consensus EPS estimate is $1.07 and revenue should come in at $2.81 billion. In its most recently reported quarter, Arch Capital reported a 127% leap in earnings to $1.27 per share. It posted EPS growth of 28%, 2,400% and 155% the prior three quarters. Sales last quarter dipped 3% to $2.31 billion.

Insurer Boasts High EPS And Composite Ratings

The Bermuda-based insurance company's EPS Rating is 93 out of a best-possible 99 and it has a 92 Composite Rating. It ranks No. 8 in the IBD Insurance-Property & Casualty industry group.

It also carries an 89 Relative Strength Rating and a C+ Accumulation/Distribution Rating, which indicates slightly more selling than buying of its shares by mutual funds and other big investors. That rating has improved over the past week.

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Follow Michael Molinski on Twitter @IMmolinski