Due in part to increased demand for their goods and services, energy businesses have reported second-quarter profits that were higher than anticipated. Due mostly to the Russia-Ukraine conflict and the recent tourism boom, there has been a dramatic rise in the demand for natural gas and oil globally in recent months. As a result, the rest of the world’s energy corporations now have a huge opportunity to access its enormous natural gas and other hydrocarbon deposits.
Insider Monkey highlights the 10 important energy stocks making moves after earnings. In Wednesday’s pre-market trading session, Precision Drilling Corporation stock showed a positive change. The corporation reported second-quarter financial results that exceeded forecasts. The quarter’s revenue increased 62 percent year over year to C$326 million. Texas-based Helix Energy Solutions Group, Inc. provides offshore energy services. Financial expectations for the second quarter were not met by the company. Helix Energy’s revenue for the quarter was $162.6 million, just above $161.9 million. In the second quarter, Liberty Energy Inc. turned a profit. For the quarter, the oilfield services company recorded earnings of 55 cents per share. The revenue was $943 million, an increase of 62 percent over the previous year. RPC, Inc. credited higher pricing and greater drilling activity for the most recent results. The Atlanta-based corporation exceeded expectations by earning 22 cents per share throughout the quarter. The $375.5 million quarterly sales likewise exceeded the $328.6 million average estimate. On Wednesday, July 27, 2022, pre-market activity saw a little increase in the price of ChampionX Corporation shares. For the second quarter, the corporation reported financial results that were better than anticipated. With $552.4 million in revenue, its manufacturing chemical technology business was the highest contributor. For more details, click 10 Important Energy Stocks Making Moves After Earnings.