We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Energy markets have been insane this year. A huge spike in demand as the world crawled out of its COVID-induced lockdown, put tons of pressure on prices. Disruptions stemming from war in Europe did not help things along either. However, recently it seems like prices are coming back down to Earth. The expectations for the future have reeled in as well. This is helping normalize this sector which had been a runaway winner this year.
That’s a word to the wise for what might be on the horizon as the calendar turns over to 2023. The Zacks Rank, a system which sorts out stocks with the strongest earnings trends from those with the weakest, is flashing some warning signs. One stock flashing a warning sign is today’s Bear of the Day.
I’m talking about Zacks Rank #5 (Strong Sell) Kinetik (KNTK - Free Report) . Kinetik Holdings Inc. operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.
The reason for the unfavorable rank is that earnings are moving in the wrong direction. Over the last 30 days, analysts have been cutting their earnings estimate numbers for both the current year and next year. The negative moves have dropped our Zacks Consensus Estimates for the current year from $3.25 to $2.04 while next year’s number is off from $3.09 to $2.61.
The Oil and Gas – Field Services industry is in the Top 10% of our Zacks Industry Rank. That being said, there are a handful of names in this industry which are in the good graces of our Zacks Rank. Those stocks include Zacks Rank #1 (Strong Buy) stocks Halliburton (HAL - Free Report) and NexTier Oilfield Services .
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bear of the Day: KINETIK Holdings (KNTK)
Energy markets have been insane this year. A huge spike in demand as the world crawled out of its COVID-induced lockdown, put tons of pressure on prices. Disruptions stemming from war in Europe did not help things along either. However, recently it seems like prices are coming back down to Earth. The expectations for the future have reeled in as well. This is helping normalize this sector which had been a runaway winner this year.
That’s a word to the wise for what might be on the horizon as the calendar turns over to 2023. The Zacks Rank, a system which sorts out stocks with the strongest earnings trends from those with the weakest, is flashing some warning signs. One stock flashing a warning sign is today’s Bear of the Day.
I’m talking about Zacks Rank #5 (Strong Sell) Kinetik (KNTK - Free Report) . Kinetik Holdings Inc. operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.
The reason for the unfavorable rank is that earnings are moving in the wrong direction. Over the last 30 days, analysts have been cutting their earnings estimate numbers for both the current year and next year. The negative moves have dropped our Zacks Consensus Estimates for the current year from $3.25 to $2.04 while next year’s number is off from $3.09 to $2.61.
The Oil and Gas – Field Services industry is in the Top 10% of our Zacks Industry Rank. That being said, there are a handful of names in this industry which are in the good graces of our Zacks Rank. Those stocks include Zacks Rank #1 (Strong Buy) stocks Halliburton (HAL - Free Report) and NexTier Oilfield Services .