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Strength Seen in Battalion Oil Corporation (BATL): Can Its 12.7% Jump Turn into More Strength?
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Battalion Oil Corporation (BATL - Free Report) shares soared 12.7% in the last trading session to close at $7.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.5% gain over the past four weeks.
Battalion Oil Corporation stock rose for the second straight day, driven by optimism over oil prices spurred by OPEC’s positive commentary on world energy demand and Saudi Arabia’s pledge to extend its current 1 million barrel per day production cut through August. The recovery in crude prices to more than $75 a barrel has lifted the energy space and contributed to the strength in Battalion Oil, a pure play operator focused on the Delaware Basin in West Texas.
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +1900%. Revenues are expected to be $62.27 million, down 38.7% 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 Battalion Oil Corporation, 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 BATL going forward to see if this recent jump can turn into more strength down the road.
Battalion Oil Corporation is a member of the Zacks Oil and Gas - Exploration and Production - United States industry. One other stock in the same industry, Viper Energy Partners (VNOM - Free Report) , finished the last trading session 0.7% higher at $26.02. VNOM has returned 3.4% over the past month.
Viper Energy's consensus EPS estimate for the upcoming report has changed -9.9% over the past month to $0.24. Compared to the company's year-ago EPS, this represents a change of -44.2%. Viper Energy currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Battalion Oil Corporation (BATL): Can Its 12.7% Jump Turn into More Strength?
Battalion Oil Corporation (BATL - Free Report) shares soared 12.7% in the last trading session to close at $7.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.5% gain over the past four weeks.
Battalion Oil Corporation stock rose for the second straight day, driven by optimism over oil prices spurred by OPEC’s positive commentary on world energy demand and Saudi Arabia’s pledge to extend its current 1 million barrel per day production cut through August. The recovery in crude prices to more than $75 a barrel has lifted the energy space and contributed to the strength in Battalion Oil, a pure play operator focused on the Delaware Basin in West Texas.
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +1900%. Revenues are expected to be $62.27 million, down 38.7% 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 Battalion Oil Corporation, 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 BATL 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 >>>>
Battalion Oil Corporation is a member of the Zacks Oil and Gas - Exploration and Production - United States industry. One other stock in the same industry, Viper Energy Partners (VNOM - Free Report) , finished the last trading session 0.7% higher at $26.02. VNOM has returned 3.4% over the past month.
Viper Energy's consensus EPS estimate for the upcoming report has changed -9.9% over the past month to $0.24. Compared to the company's year-ago EPS, this represents a change of -44.2%. Viper Energy currently boasts a Zacks Rank of #3 (Hold).