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Strength Seen in Southwestern Energy (SWN): Can Its 15.6% Jump Turn into More Strength?
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Southwestern Energy (SWN - Free Report) shares soared 15.6% in the last trading session to close at $6.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 25.3% gain over the past four weeks.
The recent surge in natural gas prices on account of geopolitical tensions primarily drove the stock.Severe sanctions on Russia, as imposed by several western economies, led to an increase in gas prices. Being a leading producer of the commodity in the United States, Southwestern Energy is well-positioned to capitalize on the rally in gas price.
This independent oil and gas company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of +34.5%. Revenues are expected to be $1.63 billion, up 51.6% 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 Southwestern Energy, the consensus EPS estimate for the quarter has been revised marginally 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 SWN going forward to see if this recent jump can turn into more strength down the road.
Southwestern Energy is a member of the Zacks Oil and Gas - Exploration and Production - United States industry. One other stock in the same industry, SilverBow Resources (SBOW - Free Report) , finished the last trading session 10.2% higher at $34.54. SBOW has returned 28.1% over the past month.
For SilverBow, the consensus EPS estimate for the upcoming report has changed -30.1% over the past month to $1.97. This represents a change of -14.7% from what the company reported a year ago. SilverBow currently has a Zacks Rank of #5 (Strong Sell).
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Strength Seen in Southwestern Energy (SWN): Can Its 15.6% Jump Turn into More Strength?
Southwestern Energy (SWN - Free Report) shares soared 15.6% in the last trading session to close at $6.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 25.3% gain over the past four weeks.
The recent surge in natural gas prices on account of geopolitical tensions primarily drove the stock.Severe sanctions on Russia, as imposed by several western economies, led to an increase in gas prices. Being a leading producer of the commodity in the United States, Southwestern Energy is well-positioned to capitalize on the rally in gas price.
This independent oil and gas company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of +34.5%. Revenues are expected to be $1.63 billion, up 51.6% 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 Southwestern Energy, the consensus EPS estimate for the quarter has been revised marginally 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 SWN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Southwestern Energy is a member of the Zacks Oil and Gas - Exploration and Production - United States industry. One other stock in the same industry, SilverBow Resources (SBOW - Free Report) , finished the last trading session 10.2% higher at $34.54. SBOW has returned 28.1% over the past month.
For SilverBow, the consensus EPS estimate for the upcoming report has changed -30.1% over the past month to $1.97. This represents a change of -14.7% from what the company reported a year ago. SilverBow currently has a Zacks Rank of #5 (Strong Sell).