These 3 Energy Stocks Rocketed 20% Higher This Week
-
Upload
the-motley-fool -
Category
Economy & Finance
-
view
4.029 -
download
0
Transcript of These 3 Energy Stocks Rocketed 20% Higher This Week
This week was a pretty good one for energy stocks. Many enjoyed double-digit stock price gains as rising oil prices and better than
expected earnings provided plenty of fuel for liftoff.
Here’s a closer look at the three that jumped the most in the past
week.Photo credit: TaxCredits.net
What:
Shares of the oil-field service company Pioneer Energy Services (NYSE: PES) surged more than 22% this week.
So What:
Key driver: Pioneer Energy Services reported first-quarter results on Thursday Revenue: $193.8 million
(down 18.9% year-over-year)
EPS: -$0.13
Revenue beat estimates by $7.7 million and earnings were in-line
Now What:
Pioneer Energy Services also repaid $45 million in debt to improve its balance sheet
Company sees some indications that its markets are stabilizing as oil prices are improving
Key takeaway: There are signs that the worst is over and that drilling activity could improve in the second half of 2015
So What:
Key driver: Higher oil prices Clean Energy Fuels’ stock
spent the past month correcting after a deep drop when oil prices collapsed last year
Because Clean Energy uses natural gas to replace diesel, it needs higher oil prices to overcome the high switching costs
Now What:
Clean Energy is largely moving higher due to momentum
Investors feared its prospects were doomed when oil prices collapsed, but are now realizing that’s not the case
Key takeaway: The market is correcting its over-correction
What:
Shares of the ceramic proppant maker CARBO Ceramics (NYSE: CRR) were propped up 38.8% this week.
So What:
Key driver: CARBO Ceramics reported first-quarter results on Thursday Revenue: $73.8 million
(down 50.4% year-over-year)
EPS: -$0.22 Revenue missed
expectations, but earnings were much better than feared
Now What:
CARBO Ceramics was deeply impacted by a “significant and severe contraction” in drilling activity
Company is managing its costs to improve profitability through downturn
Key takeaway: While downturn is moderating, two big issues remain: Wells being drilled, but not
completed Producers switching to lower
cost proppants like sand
This $19 trillion industry could destroy the Internet
One bleeding-edge technology is about to put the World Wide Web to bed.
And if you act right away, it could make you wildly rich. Experts are calling
it the single largest business opportunity in the history of capitalism... The
Economist is calling it "transformative"... But you'll probably just call it "how
I made my millions." Don't be too late to the party -- click below for one
stock to own when the Web goes dark.