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Cheniere Energy (LNG) Surges 3.1%: Is This an Indication of Further Gains?
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Cheniere Energy (LNG - Free Report) shares rallied 3.1% in the last trading session to close at $165.67. 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 2% gain over the past four weeks.
Shares of Cheniere Energy rallied on the last trading day. The bullishness was driven by the company’s announcement of raising its earnings outlook along with laying out plans to pay higher dividends and share repurchases while augmenting its production facilities. Mounting energy prices and LNG demand as a result of Europe hustling to find alternatives to Russian gas has added to the strength of this Houston, TX-based liquefied natural gas exporter. Moreover, RBC Capital raised its price target for Cheniere to $199.
This natural gas company is expected to post quarterly earnings of $3.52 per share in its upcoming report, which represents a year-over-year change of +274.5%. Revenues are expected to be $7.13 billion, up 122.8% 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 Cheniere Energy, the consensus EPS estimate for the quarter has been revised 6.3% 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 LNG going forward to see if this recent jump can turn into more strength down the road.
Cheniere Energy is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Callon Petroleum , another stock in the same industry, closed the last trading session 3.7% lower at $42. CPE has returned 9.8% in the past month.
For Callon, the consensus EPS estimate for the upcoming report has changed -1.3% over the past month to $4.08. This represents a change of +39.3% from what the company reported a year ago. Callon currently has a Zacks Rank of #3 (Hold).
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Cheniere Energy (LNG) Surges 3.1%: Is This an Indication of Further Gains?
Cheniere Energy (LNG - Free Report) shares rallied 3.1% in the last trading session to close at $165.67. 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 2% gain over the past four weeks.
Shares of Cheniere Energy rallied on the last trading day. The bullishness was driven by the company’s announcement of raising its earnings outlook along with laying out plans to pay higher dividends and share repurchases while augmenting its production facilities. Mounting energy prices and LNG demand as a result of Europe hustling to find alternatives to Russian gas has added to the strength of this Houston, TX-based liquefied natural gas exporter. Moreover, RBC Capital raised its price target for Cheniere to $199.
This natural gas company is expected to post quarterly earnings of $3.52 per share in its upcoming report, which represents a year-over-year change of +274.5%. Revenues are expected to be $7.13 billion, up 122.8% 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 Cheniere Energy, the consensus EPS estimate for the quarter has been revised 6.3% 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 LNG 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 >>>>
Cheniere Energy is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Callon Petroleum , another stock in the same industry, closed the last trading session 3.7% lower at $42. CPE has returned 9.8% in the past month.
For Callon, the consensus EPS estimate for the upcoming report has changed -1.3% over the past month to $4.08. This represents a change of +39.3% from what the company reported a year ago. Callon currently has a Zacks Rank of #3 (Hold).