NexTier Oilfield Solutions shares ended the last trading session 6.3% higher at $5.39. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 26.8% gain over the past four weeks.
NexTier Oilfield has seen a four-consecutive-day stretch of price increase on increased optimism over the accelerated recovery in the energy sector following the massive improvement in oil prices. The fresh decisions by OPEC+ to continue to pump more oil have further reassured that the effect that Omicron could have on fuel demand will possibly be mild. OPEC+ has decided that in February, they will increase their output collectively by another 400,000 barrels a day. The decision of OPEC+ has induced fresh momentum to the crude price rally. Being a leading land oilfield service player in the United States, the company is well positioned to capitalize on the rapidly improving oil price.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +76.7%. Revenues are expected to be $504.7 million, up 134.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For NexTier Oilfield Solutions, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NEX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Strength Seen in NexTier Oilfield Solutions (NEX): Can Its 6.3% Jump Turn into More Strength?
NexTier Oilfield Solutions shares ended the last trading session 6.3% higher at $5.39. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 26.8% gain over the past four weeks.
NexTier Oilfield has seen a four-consecutive-day stretch of price increase on increased optimism over the accelerated recovery in the energy sector following the massive improvement in oil prices. The fresh decisions by OPEC+ to continue to pump more oil have further reassured that the effect that Omicron could have on fuel demand will possibly be mild. OPEC+ has decided that in February, they will increase their output collectively by another 400,000 barrels a day. The decision of OPEC+ has induced fresh momentum to the crude price rally. Being a leading land oilfield service player in the United States, the company is well positioned to capitalize on the rapidly improving oil price.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +76.7%. Revenues are expected to be $504.7 million, up 134.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For NexTier Oilfield Solutions, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NEX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>