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Halliburton Company (HAL) - free report >>
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Halliburton Company (HAL) - free report >>
Solaris Oilfield Infrastructure, Inc. (SOI) - free report >>
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Solaris Oilfield Infrastructure, Inc. (SOI) Soars 5.6%: Is Further Upside Left in the Stock?
Solaris Oilfield Infrastructure, Inc. (SOI - Free Report) shares rallied 5.6% in the last trading session to close at $11.19. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 31.8% gain over the past four weeks.
The recent surge in oil prices on account of geopolitical tensions primarily drove the stock. The price of oil is trading at more than $115-per barrel mark, reflecting a significant improvement in the past year. This is beneficial for Solaris Oilfield since the patented equipment and services of the company are utilized in several prolific oil basins in the United States.
This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +275%. Revenues are expected to be $47.07 million, up 64.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Solaris Oilfield Infrastructure, Inc., the consensus EPS estimate for the quarter has been revised 200% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SOI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Solaris Oilfield Infrastructure, Inc. is a member of the Zacks Oil and Gas - Field Services industry. One other stock in the same industry, Halliburton (HAL - Free Report) , finished the last trading session 1.4% higher at $36.76. HAL has returned 11.5% over the past month.
Halliburton's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.34. Compared to the company's year-ago EPS, this represents a change of +79%. Halliburton currently boasts a Zacks Rank of #3 (Hold).