Equinor (EQNR) Soars 5.1%: Is Further Upside Left in the Stock?

Equinor (EQNR) shares ended the last trading session 5.1% higher at $40.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 36.4% gain over the past four weeks.The surge can be attributed to a rise in gas prices following an Iranian attack on Qatar’s LNG infrastructure, which is expected to benefit Equinor as a major gas supplier. The attack has resulted in a significant portion of Qatar’s LNG production being wiped out, leading to a global energy supply shortage. This is likely to directly impact energy supplies in Europe and Asia, resulting in higher gas prices in these markets. Equinor is a leading global gas producer and a major supplier to Europe. The shortage of LNG due to the U.S.-Iran conflict in the Middle East, effectively blocking the Strait of Hormuz and damaging critical LNG infrastructure in Qatar, will increase the demand for Equinor’s gas supply in Europe and allow the company to capitalize on the elevated pricing of the superchilled fuel.This oil and gas company is expected to post quarterly earnings of $0.75 per share in its upcoming report, which represents a year-over-year change of +13.6%. Revenues are expected to be $23.37 billion, down 21.9% 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 Equinor, the consensus EPS estimate for the quarter has been revised 7.1% 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 EQNR going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Equinor is part of the Zacks Oil and Gas - Refining and Marketing industry. CVR Energy (CVI), another stock in the same industry, closed the last trading session 2.4% lower at $32.13. CVI has returned 47.2% in the past month.For CVR, the consensus EPS estimate for the upcoming report has changed -950% over the past month to -$0.21. This represents a change of +63.8% from what the company reported a year ago. CVR currently has a Zacks Rank of #3 (Hold).#1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Equinor ASA (EQNR): Free Stock Analysis Report CVR Energy Inc. (CVI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks