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Adams Resources (AE) Soars 6%: Is Further Upside Left in the Stock?
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Adams Resources & Energy (AE - Free Report) shares rallied 6% in the last trading session to close at $31.80. 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 19.6% loss over the past four weeks.
Shares of Adams Resources & Energy rallied on the last trading day. The bullishness could be attributed to continuing high energy prices which have contributed to the strength of Adams Resources, a company engaged in the marketing of crude oil, natural gas and liquid chemical products. Oil prices of more than $100 a barrel and natural gas surging to $6.155 per MMBtu hint at brighter prospects going ahead for the Houston-based firm.
This oil and gas company is expected to post quarterly earnings of $0.66 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $785.6 million, up 61.4% 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 Adams Resources, 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 AE going forward to see if this recent jump can turn into more strength down the road.
Adams Resources is a member of the Zacks Oil and Gas - Refining and Marketing industry. One other stock in the same industry, World Fuel Services , finished the last trading session 2.9% higher at $20.94. INT has returned -23.1% over the past month.
World Fuel Services' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. Compared to the company's year-ago EPS, this represents a change of -25.6%. World Fuel Services currently boasts a Zacks Rank of #3 (Hold).
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Adams Resources (AE) Soars 6%: Is Further Upside Left in the Stock?
Adams Resources & Energy (AE - Free Report) shares rallied 6% in the last trading session to close at $31.80. 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 19.6% loss over the past four weeks.
Shares of Adams Resources & Energy rallied on the last trading day. The bullishness could be attributed to continuing high energy prices which have contributed to the strength of Adams Resources, a company engaged in the marketing of crude oil, natural gas and liquid chemical products. Oil prices of more than $100 a barrel and natural gas surging to $6.155 per MMBtu hint at brighter prospects going ahead for the Houston-based firm.
This oil and gas company is expected to post quarterly earnings of $0.66 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $785.6 million, up 61.4% 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 Adams Resources, 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 AE 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 >>>>
Adams Resources is a member of the Zacks Oil and Gas - Refining and Marketing industry. One other stock in the same industry, World Fuel Services , finished the last trading session 2.9% higher at $20.94. INT has returned -23.1% over the past month.
World Fuel Services' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. Compared to the company's year-ago EPS, this represents a change of -25.6%. World Fuel Services currently boasts a Zacks Rank of #3 (Hold).