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SilverBow (SBOW) Surges 11.8%: Is This an Indication of Further Gains?
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SilverBow Resources (SBOW - Free Report) shares rallied 11.8% in the last trading session to close at $27.95. 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 47.1% loss over the past four weeks.
SilverBow Resources shares rallied for the second straight trading day, driven by optimism over high natural gas prices spurred by the ongoing strength in liquefied natural gas demand and geopolitical turmoil over Russian invasion of Ukraine. The steady increase in the fuel’s price to more than $6 per MMBtu has pushed drilling activity higher and contributed to the strength in SilverBow Resources, a natural gas operator in the Eagle Ford Shale in South Texas. The recently announced closure to its previously declared acquisition of producing assets which promises an increase in output going forward also had a strong positive effect on the stock price.
This energy company is expected to post quarterly earnings of $1.68 per share in its upcoming report, which represents a year-over-year change of +31.3%. Revenues are expected to be $106 million, up 51.7% 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 SilverBow, 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 SBOW going forward to see if this recent jump can turn into more strength down the road.
SilverBow belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Northern Oil and Gas (NOG - Free Report) , closed the last trading session 5.2% higher at $24.32. Over the past month, NOG has returned -36.3%.
Northern Oil and Gas' consensus EPS estimate for the upcoming report has changed +3.2% over the past month to $1.53. Compared to the company's year-ago EPS, this represents a change of +66.3%. Northern Oil and Gas currently boasts a Zacks Rank of #2 (Buy).
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SilverBow (SBOW) Surges 11.8%: Is This an Indication of Further Gains?
SilverBow Resources (SBOW - Free Report) shares rallied 11.8% in the last trading session to close at $27.95. 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 47.1% loss over the past four weeks.
SilverBow Resources shares rallied for the second straight trading day, driven by optimism over high natural gas prices spurred by the ongoing strength in liquefied natural gas demand and geopolitical turmoil over Russian invasion of Ukraine. The steady increase in the fuel’s price to more than $6 per MMBtu has pushed drilling activity higher and contributed to the strength in SilverBow Resources, a natural gas operator in the Eagle Ford Shale in South Texas. The recently announced closure to its previously declared acquisition of producing assets which promises an increase in output going forward also had a strong positive effect on the stock price.
This energy company is expected to post quarterly earnings of $1.68 per share in its upcoming report, which represents a year-over-year change of +31.3%. Revenues are expected to be $106 million, up 51.7% 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 SilverBow, 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 SBOW 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 >>>>
SilverBow belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Northern Oil and Gas (NOG - Free Report) , closed the last trading session 5.2% higher at $24.32. Over the past month, NOG has returned -36.3%.
Northern Oil and Gas' consensus EPS estimate for the upcoming report has changed +3.2% over the past month to $1.53. Compared to the company's year-ago EPS, this represents a change of +66.3%. Northern Oil and Gas currently boasts a Zacks Rank of #2 (Buy).