Gulf Island Fabrication Stock (NASDAQ: GIFI)

Gulf Island Fabrication (NASDAQ:GIFI) Stock, Quote.Headers.trade-ideas

Gulf Island Fabrication

Gulf Island Fabrication Inc is a U.S. based company that is a fabricator of complex steel structures and marine vessels. The company also provides installation, hook-up, commissioning, repair, and maintenance services with specialized crews. The company operates through segments namely Fabrication division which fabricates structures such as offshore drilling and production platforms and other steel structures for customers in the oil and gas industries; the Shipyards division manufactures newly built and repairs various steel marine vessels in the United States; the Services division provides interconnect piping services on offshore platforms, welding, and inshore structures and also provides maintenance and industrial facilities.

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As of March 12, 2024, five stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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Shares of  Marvell Technology, Inc. (NASDAQ: MRVL) fell sharply during Friday’s session after the company reported fourth-quarter financial results and issued weak Q1 guidance.

Why Marvell Technology Shares Are Trading Lower By 10%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

Gulf Island Fabrication, Inc. - Common Stock

Gulf Island Fabrication Inc

The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Vital Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTLE#NYSE">VTLE</a>)</h3>
<ul>
<li>On Aug. 7, Vital Energy posted downbeat quarterly earnings. &#8220;Our team continues to deliver strong results as our optimized development strategy enhances well productivity on acquired properties,&#8221; stated Jason Pigott, President and Chief Executive Officer. The company's stock fell around 16% over the past five days and has a <a href="https://www.benzinga.com/quote/VTLE">52-week low of $30.57</a>.</li>
<li>RSI Value: 23.69</li>
<li>VTLE Price Action: Shares of Vital Energy fell 4.4% to close at $30.57 on Thursday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1">latest VTLE news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="912" height="840" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06073035/image-53.png" alt="" class="wp-image-534156" style="width:706px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06073035/image-53.png 912w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06073035/image-53-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06073035/image-53-768x707.png 768w" sizes="(max-width: 912px) 100vw, 912px" /></a></figure>
<h3 class="wp-block-heading">Torm PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMD#NASDAQ">TRMD</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On July 23, Evercore ISI Group analyst Jonathan Chappell maintained TORM with an Outperform and raised the price target from $45 to $48. The company's stock fell around 10% over the past month It<a href="https://www.benzinga.com/quote/TRMD"> has a 52-week low</a> of $24.12.</li>
<li>RSI Value: 29.27</li>
<li>TRMD Price Action: Shares of Torm fell 2.2% to close at $33.21 on Thursday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1">trend in TRMD stock. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="918" height="843" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042849/image-50.png" alt="" class="wp-image-533743" style="width:726px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042849/image-50.png 918w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042849/image-50-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042849/image-50-768x705.png 768w" sizes="(max-width: 918px) 100vw, 918px" /></a></figure>
<h3 class="wp-block-heading">New Fortress Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>)</h3>
<ul>
<li>On Aug. 9, New Fortress Energy reported worse-than-expected second-quarter financial results. The company's shares fell around 29% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/NFE">low of $11.32</a>.</li>
<li>RSI Value: 29.64</li>
<li>NFE Price Action: Shares of New Fortress Energy gained 0.5% to close at $11.61 on Thursday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1">breakout in NFE shares. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="881" height="833" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042759/image-49.png" alt="" class="wp-image-533742" style="width:679px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042759/image-49.png 881w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042759/image-49-300x284.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042759/image-49-768x726.png 768w" sizes="(max-width: 881px) 100vw, 881px" /></a></figure>
<h3 class="wp-block-heading">Gulf Island Fabrication, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIFI#NASDAQ">GIFI</a>)</h3>
<ul>
<li>On Aug. 6, Gulf Island Fabrication reported worse-than-expected second-quarter financial results. &#8220;We delivered another period of stable, profitable operating results and made continued progress on our strategic objectives during the second quarter,&#8221; said Richard Heo, Gulf Island&#8217;s President and Chief Executive Officer. The company's shares lost around 7% over the past five days. The company's 52-week low is $3.13.</li>
<li>RSI Value: 29.73</li>
<li>GIFI Price Action: Shares of Gulf Island Fabrication fell 3.2% to close at $5.54 on Thursday.</li>
<li>Benzinga Pro's earnings calendar was used to track upcoming <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1">GIFI's earnings reports.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="871" height="421" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042729/image-48.png" alt="" class="wp-image-533741" style="width:567px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042729/image-48.png 871w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042729/image-48-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06042729/image-48-768x371.png 768w" sizes="(max-width: 871px) 100vw, 871px" /></a></figure>
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WIIM

Gulf Island Fabrication shares are trading lower after the company reported worse-than-expected Q2 financial results.

Gulf Island Fabrication (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIFI#NASDAQ">GIFI</a>) reported quarterly earnings of $0.11 per share which missed the analyst consensus estimate of $0.13 by 15.38 percent. This is a 57.14 percent increase over earnings of $0.07 per share from the same period last year. The company reported quarterly sales of $41.26 million which missed the analyst consensus estimate of $44.50 million by 7.28 percent. This is a 4.92 percent increase over sales of $39.33 million the same period last year.

Earnings

Earnings Misses

Gulf Island Fabrication Q2 GAAP EPS $0.11 Misses $0.13 Estimate, Sales $41.26M Miss $44.50M Estimate

Guidance

Gulf Island Reiterates Guidance, Sees Services Segment EBITDA ~$14M

Gulf Island Fabrication (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIFI#NASDAQ">GIFI</a>) reported quarterly earnings of $0.37 per share. The company reported quarterly sales of $42.881 million which missed the analyst consensus estimate of $43.000 million by 0.28 percent. This is a 31.02 percent decrease over sales of $62.168 million the same period last year.

Gulf Island Fabrication Q1 2024 GAAP EPS $0.37, Sales $42.881M Miss $43.000M Estimate

As of March 12, 2024, five stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Gulf Island Fabrication, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gifi#NASDAQ">GIFI</a>)</h3>
<ul>
<li>On March 7, Gulf Island Fabrication reported a year-over-year increase in fourth-quarter revenue results. &ldquo;Our strong fourth quarter results cap off an excellent year for Gulf Island and reflect the continued favorable end market trends in our core Gulf Coast region, combined with the benefits of the successful execution of our strategic initiatives,&rdquo; said Richard Heo, Gulf Island&rsquo;s President and Chief Executive Officer. The company&rsquo;s stock gained around 37% over the past five days and has a <a href="https://www.benzinga.com/quote/GIFI">52-week high of $7.37 </a>.</li>
<li>RSI Value: 87.12</li>
<li>GIFI Price Action: Shares of Gulf Island Fabrication gained 5.6% to close at $6.94 on Monday.</li>
</ul>
<h3>Equitrans Midstream Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/etrn#NYSE">ETRN</a>)</h3>
<ul>
<li>On March 11, EQT Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqt#NYSE">EQT</a>) announced that it entered into a definitive merger agreement to acquire Equitrans Midstream. The company&rsquo;s stock gained around 6% over the past five days and <a href="https://www.benzinga.com/quote/ETRN"> has a 52-week high </a> of $11.71.</li>
<li>RSI Value: 74.44</li>
<li>ETRN Price Action: Shares of Equitrans Midstream gained 1.5% to close at $11.32 on Monday.</li>
</ul>
<h3>Marathon Petroleum Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpc#NYSE">MPC</a>)</h3>
<ul>
<li>On Jan. 30, Marathon Petroleum reported better-than-expected fourth-quarter financial results. The company&rsquo;s stock gained around 5% over the past five days has a <a href="https://www.benzinga.com/quote/MPC"> 52-week high </a> of $181.63.</li>
<li>RSI Value: 71.56</li>
<li>MPC Price Action: Shares of Marathon Petroleum gained 1% to close at $181.41 on Monday.</li>
</ul>
<h3>DT Midstream, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dtm#NYSE">DTM</a>)</h3>
<ul>
<li>On Feb. 16, DT Midstream reported fourth-quarter fiscal 2023 operating earnings of $121 million, compared to $91 million in prior quarter. &ldquo;We successfully executed on the largest construction program in our history last year, completing key expansions ahead of schedule and on budget. These projects will deliver strong growth over the next two years,&rdquo; commented David Slater, President and CEO. The company&rsquo;s stock jumped around 11% over the past month and has a 52-week high is $58.90.</li>
<li>RSI Value: 75.58</li>
<li>DTM Price Action: Shares of DT Midstream rose 0.5% to close at $58.57 on Monday.</li>
</ul>
<h3>Antero Midstream Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/am#NYSE">AM</a>)</h3>
<ul>
<li>On Feb. 14, Antero Midstream posted better-than-expected quarterly earnings. The company&rsquo;s stock jumped around 14% over the past month and <a href="https://www.benzinga.com/quote/AM"> has a 52-week high </a> of $13.72.</li>
<li>RSI Value: 72.24</li>
<li>AM Price Action: Shares of Antero Midstream gained 2.5% to close at $13.68 on Monday.</li>
</ul>
&nbsp;
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Johnson Rice analyst Martin Malloy upgrades Gulf Island Fabrication (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIFI#NASDAQ">GIFI</a>) from Hold to Accumulate.

Upgrades

Analyst Ratings

Johnson Rice Upgrades Gulf Island Fabrication to Accumulate

Shares of Marvell Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrvl#NASDAQ">MRVL</a>) fell sharply during Friday&rsquo;s session after the company reported fourth-quarter financial results and issued weak Q1 guidance.
Marvell said fourth-quarter revenue increased 1% year-over-year to $1.427 billion, which beat the consensus estimate of $1.42 billion. The chip designer reported quarterly earnings of 46 cents per share, which was in line with analyst estimates.
Marvell sees first-quarter revenue of $1.15 billion, plus or minus 5%, versus estimates of $1.371 billion. The company sees first-quarter adjusted earnings of 23 cents per share, plus or minus 5 cents per share, versus estimates of 40 cents per share. The company authorized a $3 billion buyback.
Marvell Technology shares dipped 9.6% to $76.91 on Friday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
Ainos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aimd#NASDAQ">AIMD</a>) jumped 140% to $2.6899 after dipping 18% on Thursday.
Psyence Biomedical Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pbm#NASDAQ">PBM</a>) shares climbed 139% to $3.0350. Psyence Biomedical recently announced its subsidiary, Psyence Australia, received Human Research Ethics Committee approval to initiate its Phase IIb study.
Safe and Green Development Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgd#NASDAQ">SGD</a>) shares jumped 138% to $1.57 after the company announced financing for the Norman Berry Expansion in Atlanta, Georgia.
MIRA Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mira#NASDAQ">MIRA</a>) shares climbed 48.5% to $1.36. MIRA Pharmaceuticals, last month, announced a research collaboration with Pharmaseed to research and evaluate Ketamir for patients with major depressive disorder and post-traumatic stress disorder.
CERo Therapeutics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cero#NASDAQ">CERO</a>) shares climbed 35.4% to $4.17 after surging over 20% on Thursday. CERo Therapeutics recently announced the publication of preclinical research analyzing CER-1236 in targeting Acute Myelogenous Leukemia tumor cells from human patients.
Willdan Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wldn#NASDAQ">WLDN</a>) gained 30.4% to $25.89 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance above estimates. Also, the company secured a contract worth approximately $30 million to $50 million over three years.
The Joint Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jynt#NASDAQ">JYNT</a>) gained 29% to $11.80 following fourth-quarter results.
Smith &amp; Wesson Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swbi#NASDAQ">SWBI</a>) jumped 25.8% to $16.91 after the company reported better-than-expected third-quarter financial results.
Research Frontiers Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/refr#NASDAQ">REFR</a>) climbed 25.6% to $1.42 following fourth-quarter results.
Gulf Island Fabrication, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gifi#NASDAQ">GIFI</a>) shares gained 24.1% to $6.43 after the company reported a year-over-year increase in fourth-quarter revenue results.
Grifols, S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grfs#NASDAQ">GRFS</a>) gained 22.7% to $6.89 after the company announced it published its consolidated annual accounts for 2023.
DoubleDown Interactive Co., Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ddi#NASDAQ">DDI</a>) gained 21.6% to $14.25.
Dogness (International) Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dogz#NASDAQ">DOGZ</a>) gained 18.6% to $7.98.
Kidpik Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pik#NASDAQ">PIK</a>) gained 18.3% to $3.0177.
America&#39;s Car-Mart, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crmt#NASDAQ">CRMT</a>) jumped 16.5% to $72.56 following third-quarter results.
Porch Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prch#NASDAQ">PRCH</a>) rose 16.1% to $3.6099 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.
Samsara Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iot#NYSE">IOT</a>) gained 14.3% to $39.28 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates.
Viracta Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virx#NASDAQ">VIRX</a>) shares gained 13.5% to $0.9200 following fourth-quarter results.
Aeva Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aeva#NASDAQ">AEVA</a>) rose 12.6% to $1.34.
Adaptimmune Therapeutics plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adap#NASDAQ">ADAP</a>) gained 12.1% to $1.95. Adaptimmune Therapeutics recently reported better-than-expected quarterly EPS results.
HCI Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hci#NYSE">HCI</a>) gained 11.3% to $110.42 after the company reported better-than-expected fourth-quarter financial results.
NuScale Power Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smr#NYSE">SMR</a>) jumped 10.5% to $4.9289.
Redfin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rdfn#NASDAQ">RDFN</a>) jumped 9.6% to $7.10.
reAlpha Tech Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aire#NASDAQ">AIRE</a>) rose 8.8% to $1.3599. reAlpha Tech, last month, appointed Michael Frenz as CFO and Mike Logozzo as President and COO.
Carnival Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccl#NYSE">CCL</a>) gained 5% to $16.44.
<h3>Losers</h3>
Amylyx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amlx#NASDAQ">AMLX</a>) shares fell 80.7% to $3.6596 after the company announced its PHOENIX phase 3 trial of AMX0035 for amyotrophic lateral sclerosis did not meet its primary endpoint and there was no statistical significance seen in secondary endpoints.
BigBear.ai Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NYSE">BBAI</a>) fell 30.8% to $2.6006 after the company reported worse-than-expected fourth-quarter financial results.
Next.e.GO N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egox#NASDAQ">EGOX</a>) tumbled 28.6% to $0.0819.
Critical Metals Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crml#NASDAQ">CRML</a>) fell 27.7% to $7.95.
Swvl Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swvl#NASDAQ">SWVL</a>) fell 26.3% to $5.45.
Immuron Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imrn#NASDAQ">IMRN</a>) shares dipped 24.7% to $3.4250 after jumping 161% on Thursday.
AerSale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asle#NASDAQ">ASLE</a>) fell 24.4% to $7.11 after the company reported worse-than-expected fourth-quarter financial results.
CarParts.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prts#NASDAQ">PRTS</a>) fell 24.3% to $1.8999 following fourth-quarter results.
Mobix Labs, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mobx#NASDAQ">MOBX</a>) fell 20.1% to $1.39.
Nxu, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxu#NASDAQ">NXU</a>) fell 19% to $0.8001 after surging 28% on Thursday. Nxu recently announced it successfully charged a Tesla Cybertruck.
Brera Holdings PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brea#NASDAQ">BREA</a>) shares fell 16.9% to $1.62. Brera Holdings shares jumped 91% on Thursday after the company announced that its Executive Chairman, Daniel McClory, acquired a majority stake in the company. 
Custom Truck One Source, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctos#NYSE">CTOS</a>) dipped 15.3% to $5.26 after the company reported mixed quarterly financial results.
Nexalin Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxl#NASDAQ">NXL</a>) fell 15.1% to $0.4627. Nexalin Technology recently announced results of a clinical study of its Gen-2 tACS device for the treatment of chronic insomnia.
Runway Growth Finance Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rway#NASDAQ">RWAY</a>) fell 13.5% to $11.68 following downbeat quarterly results.
Domo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/domo#NASDAQ">DOMO</a>) fell 12.7% to $9.92 after the company issued soft first-quarter and FY25 guidance.
MediaAlpha, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/max#NYSE">MAX</a>) declined 12.4% to $19.05 after the company announced a secondary offering of 3 million shares.
Genesco Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gco#NYSE">GCO</a>) fell 11.7% to $25.84 after the company&#39;s reported a fourth-quarter EPS miss and issued weak FY25 guidance.
Delek Logistics Partners, LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dkl#NYSE">DKL</a>) fell 11.3% to $39.51 after the company priced a public offering of 3,116,884 common units at $38.50 per unit.
Grom Social Enterprises, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grom#NASDAQ">GROM</a>) fell 11% to $1.13 after jumping 65% on Thursday. The company announced that it entered into a non-binding letter of intent to acquire Arctic7.
Traeger, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cook#NYSE">COOK</a>) fell 10.5% to $2.11 after the company reported worse-than-expected fourth-quarter adjusted EPS results and issued FY24 revenue guidance below estimates.
Aquestive Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aqst#NASDAQ">AQST</a>) dipped 10% to $5.11 following fourth-quarter results.
Petr&oacute;leo Brasileiro S.A. - Petrobras (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbr#NYSE">PBR</a>) shares fell 9.6% to $15.10 as the company reported a 6.3% year-over-year decline in its fourth-quarter net recurring profit.
Costco Wholesale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) fell 7.5% to $727.08 following mixed second-quarter results.
MongoDB, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdb#NASDAQ">MDB</a>) declined 6.4% to $385.82 after the company issued weak FY25 guidance.
Icahn Enterprises L.P. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iep#NASDAQ">IEP</a>) fell 4.7% to $17.85.
RadNet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rdnt#NASDAQ">RDNT</a>) dipped 4.1% to $46.54. RadNet priced its public offering of 4.55 million common stock at $44 per share.
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Why Marvell Technology Shares Are Trading Lower By 10%? Here Are Other Stocks Moving In Friday's Mid-Day Session

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining around 80 points on Friday.
The Dow traded up 0.21% to 38,874.05 while the NASDAQ fell 0.42% to 16,204.26. The S&amp;P 500 also fell, dropping, 0.13% to 5,150.72.
Check This Out: <a href="https://www.benzinga.com/news/24/03/37556716/wall-streets-most-accurate-analysts-views-on-3-risk-off-stocks-with-over-5-dividend-yields"> Wall Street&#39;s Most Accurate Analysts&#39; Views On 3 Risk Off Stocks With Over 5% Dividend Yields </a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Real estate shares jumped by 1.1% on Friday.
In trading on Friday, consumer staples shares fell by 0.8%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Nonfarm payrolls beat economist estimates, coming at 275,000 in February compared to the expected 200,000. The unemployment rate rose from 3.7% to 3.9%, surprising estimates of 3.7%.
Average hourly wages grew at a 0.1% monthly pace in February, easing from the downwardly revised 0.5% growth in January, and below the expected 0.3%.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Willdan Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wldn#NASDAQ">WLDN</a>) shares shot up 27% to $25.16 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance above estimates. Also, the company secured a contract worth approximately $30 million to $50 million over three years.
Shares of Gulf Island Fabrication, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gifi#NASDAQ">GIFI</a>) got a boost, surging 23% to $6.35 after the company reported a year-over-year increase in fourth-quarter revenue results.
Grifols, S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grfs#NASDAQ">GRFS</a>) shares were also up, gaining 20% to $6.72 after the company announced it published its consolidated annual accounts for 2023.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Amylyx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amlx#NASDAQ">AMLX</a>) shares dropped 82% to $3.51 after the company announced its PHOENIX phase 3 trial of AMX0035 for amyotrophic lateral sclerosis did not meet its primary endpoint and there was no statistical significance seen in secondary endpoints.
Shares of Next.e.GO N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egox#NASDAQ">EGOX</a>) were down 34% to $0.0760.
BigBear.ai Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NYSE">BBAI</a>) was down, falling 31% to $2.58 after the company reported worse-than-expected fourth-quarter financial results.
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&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded down 1.2% to $77.99 while gold traded up 1.6% at $2,198.80.
Silver traded up 0.4% to $24.68 on Friday while copper fell 0.7% to $3.90.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were mixed today. The eurozone&rsquo;s STOXX 600 gained 0.02%, London&rsquo;s FTSE 100 fell 0.43% while Spain&rsquo;s IBEX 35 Index rose 0.13% The German DAX fell 0.16% French CAC 40 rose 0.15% while Italy&rsquo;s FTSE MIB Index fell 0.04%.
The eurozone economy stagnated during the fourth quarter compared to a 0.1% decline in the prior three-month period. French trade deficit increased to &euro;7.4 billion in January from &euro;6.4 billion in the prior month. Spanish industrial output declined by 0.6% year-over-year in January. Producer prices in Germany declined by 4.4% year-over-year in January, while industrial output increased by 1.0% month-over-month for January.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed higher on Friday, with Japan&rsquo;s Nikkei 225 gaining 0.23%, Hong Kong&rsquo;s Hang Seng Index gaining 0.76% and China&rsquo;s Shanghai Composite Index gaining 0.61%.
The gauge for Japan&rsquo;s service <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a> climbed to 51.3 in February versus prior month&rsquo;s reading of 50.2. The index of leading economic indicators in Japan fell to 109.9 in January versus a revised reading of 110.5 in December, while index of coincident economic indicators fell to 110.2 in January versus a revised 116.0 in the previous month. Household spending in Japan dipped by 6.3% year-over-year in January.
&nbsp;
<h3>Economics</h3>
&nbsp;
Nonfarm payrolls beat economist estimates, coming at 275,000 in February compared to the expected 200,000.
The unemployment rate rose from 3.7% to 3.9%, surprising estimates of 3.7%.
Average hourly wages grew at a 0.1% monthly pace in February, easing from the downwardly revised 0.5% growth in January, and below the expected 0.3%.
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Eurozone

Commodities

Global

Crude Oil Falls Over 1%; Willdan Group Shares Spike Higher

U.S. stocks were higher, with the Dow Jones index gaining more than 100 points on Friday.
Shares of Smith &amp; Wesson Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swbi#NASDAQ">SWBI</a>) rose sharply during Friday&rsquo;s session after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/03/37559530/why-firearm-maker-smith-wessons-shares-are-shooting-higher-today">third-quarter financial results</a>.
The company recorded sales growth of 6.5% year-on-year to $137.5 million, beating the analyst consensus estimate of $133.55 million. Adjusted EPS of $0.19 beat the consensus estimate of $0.10.
Smith &amp; Wesson Brands shares surged 25.8% to $16.91 on Friday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Willdan Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wldn#NASDAQ">WLDN</a>) jumped 30.4% to $25.89 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance above estimates. Also, the company secured a contract worth approximately $30 million to $50 million over three years.</li>
<li>Gulf Island Fabrication, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gifi#NASDAQ">GIFI</a>) shares rose 24.1% to $6.43 after the company reported a year-over-year increase in fourth-quarter revenue results.</li>
<li>Grifols, S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grfs#NASDAQ">GRFS</a>) climbed 22.7% to $6.89 after the company announced it published its consolidated annual accounts for 2023.</li>
<li>DoubleDown Interactive Co., Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ddi#NASDAQ">DDI</a>) climbed 21.6% to $14.25.</li>
<li>America&#39;s Car-Mart, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crmt#NASDAQ">CRMT</a>) rose 16.5% to $72.56 following third-quarter results.</li>
<li>Porch Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prch#NASDAQ">PRCH</a>) gained 16.1% to $3.6099 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.</li>
<li>Samsara Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iot#NYSE">IOT</a>) climbed 14.3% to $39.28 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates.</li>
<li>PureCycle Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pct#NASDAQ">PCT</a>) gained 12.7% to $5.75.</li>
<li>Carvana Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvna#NYSE">CVNA</a>) gained 12.2% to $89.19 after RBC Capital upgraded the stock from Underperform to Sector Perform and raised its price target from $45 to $90.</li>
<li>Adaptimmune Therapeutics plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adap#NASDAQ">ADAP</a>) rose 12.1% to $1.95. Adaptimmune Therapeutics recently reported better-than-expected quarterly EPS results.</li>
<li>Ventyx Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vtyx#NASDAQ">VTYX</a>) gained 11.6% to $11.31. Ventyx Biosciences recently announced a $100 million private placement of common stock.</li>
<li>CleanSpark, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clsk#NASDAQ">CLSK</a>) gained 11.6% to $19.88.</li>
<li>HCI Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hci#NYSE">HCI</a>) climbed 11.3% to $110.42 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) rose 10.5% to $24.10.</li>
<li>Valneva SE (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/valn#NASDAQ">VALN</a>) gained 10.2% to $7.58.</li>
<li>Redfin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rdfn#NASDAQ">RDFN</a>) gained 9.6% to $7.10.</li>
<li>Plug Power Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plug#NASDAQ">PLUG</a>) rose 8.5% to $4.2350.</li>
<li>Affirm Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/afrm#NASDAQ">AFRM</a>) climbed 8.4% to $39.65.</li>
<li>Upstart Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upst#NASDAQ">UPST</a>) climbed 8.2% to $28.53.</li>
<li>Riot Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) gained 6.8% to $12.79.</li>
<li>Snap Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) rose 6% to $12.56 after the House Energy and Commerce Committee unanimously approved a bill that that would force ByteDance to divest TikTok.</li>
<li>Carnival Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccl#NYSE">CCL</a>) rose 5% to $16.44.</li>
</ul>
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Smith & Wesson Brands Reports Upbeat Earnings, Joins America's Car-Mart, HCI Group And Other Big Stocks Moving Higher On Friday

Shares of Porch Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prch#NASDAQ">PRCH</a>) rose sharply in pre-market trading after the company reported better-than-expected fourth-quarter financial results and <a href="https://www.benzinga.com/quote/PRCH/earnings">issued FY24 guidance</a>.
Porch Group posted GAAP loss of 3 cents per share, versus market estimates for a loss of 21 cents per share. The company&rsquo;s quarterly sales came in at $114.612 million, beating expectations of $99.328 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Porch Group shares jumped 20.5% to $3.75 in pre-market trading
Here are some other stocks moving in pre-market trading.
<h3>Gainers</h3>
<ul>
<li>Ainos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aimd#NASDAQ">AIMD</a>) gained 211.6% to $3.49 in pre-market trading after dipping 18% on Thursday.</li>
<li>MIRA Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mira#NASDAQ">MIRA</a>) shares rose 70.3% to $1.56 in pre-market trading. MIRA Pharmaceuticals, last month, announced a research collaboration with Pharmaseed to research and evaluate Ketamir for patients with major depressive disorder and post-traumatic stress disorder.</li>
<li>CERo Therapeutics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cero#NASDAQ">CERO</a>) shares rose 48.7% to $4.58 in pre-market trading after surging over 20% on Thursday. CERo Therapeutics recently announced the publication of preclinical research analyzing CER-1236 in targeting Acute Myelogenous Leukemia tumor cells from human patients.</li>
<li>reAlpha Tech Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aire#NASDAQ">AIRE</a>) rose 34.4% to $1.68 in pre-market trading. reAlpha Tech, last month, appointed Michael Frenz as CFO and Mike Logozzo as President and COO.</li>
<li>Auddia Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/auud#NASDAQ">AUUD</a>) gained 27% to $4.24 in pre-market trading. Auddia recently announced withdrawal of S-1 to finance acquisition of Radio FM.</li>
<li>Swvl Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swvl#NASDAQ">SWVL</a>) climbed 25.7% to $9.30 in pre-market trading after jumping around 38% on Thursday.</li>
<li>Gulf Island Fabrication, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gifi#NASDAQ">GIFI</a>) shares gained 23.7% to $6.41 in pre-market trading after the company reported a year-over-year increase in fourth-quarter revenue results.</li>
<li>Viracta Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virx#NASDAQ">VIRX</a>) shares gained 22.2% to $0.9898 in pre-market trading following fourth-quarter results.</li>
<li>Lotus Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lot#NASDAQ">LOT</a>) gained 17.2% to $7.37 in pre-market trading after gaining 9% on Thursday.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>AerSale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asle#NASDAQ">ASLE</a>) fell 19.4% to $7.58 pre-market trading after the company reported worse-than-expected fourth-quarter financial results.</li>
<li>Brera Holdings PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brea#NASDAQ">BREA</a>) shares tumbled 18% to $1.60 in pre-market trading. Brera Holdings shares jumped 91% on Thursday after the company announced that its Executive Chairman, Daniel McClory, acquired a majority stake in the company.</li>
<li>BigBear.ai Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NASDAQ">BBAI</a>) fell 17.6% to $3.10 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.</li>
<li>Immuron Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imrn#NASDAQ">IMRN</a>) shares dipped 16.3% to $3.81 in pre-market trading after jumping 161% on Thursday.</li>
<li>Grom Social Enterprises, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grom#NASDAQ">GROM</a>) dipped 14.2% to $1.09 in pre-market trading after jumping 65% on Thursday. The company announced that it entered into a non-binding letter of intent to acquire Arctic7.</li>
<li>Nxu, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxu#NASDAQ">NXU</a>) fell 13.8% to $0.8498 pre-market trading after surging 28% on Thursday. Nxu recently announced it successfully charged a Tesla Cybertruck.</li>
<li>Traeger, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cook#NYSE">COOK</a>) fell 13.1% to $2.05 in pre-market trading after the company reported worse-than-expected fourth-quarter adjusted EPS results and issued FY24 revenue guidance below estimates.</li>
<li>MultiSensor AI Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msai#NASDAQ">MSAI</a>) shares tumbled 12.4% to $3.19. MultiSensor AI Holdings shares gained 8% on Thursday after the company entered into an agreement to terminate a provision of its Business Combination Agreement with SportsMap Tech Acquisition Corp that would have required the issuance of 2.4 million shares of its stock to certain former holders of Infrared Camera Holdings.</li>
<li>Petr&oacute;leo Brasileiro S.A. - Petrobras (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbr#NYSE">PBR</a>) shares fell 11.4% to $14.80 in pre-market trading as the company reported a 6.3% year-over-year decline in its fourth-quarter net recurring profit.</li>
<li>MongoDB, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdb#NASDAQ">MDB</a>) declined 8.1% to $378.65 in pre-market trading after the company issued weak FY25 guidance.</li>
</ul>
&nbsp;
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AUUD

Infrared Cameras Holdings, Inc. - Common Stock

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Why Porch Group Shares Are Trading Higher By Around 20%; Here Are 20 Stocks Moving Premarket

Gulf Island Fabrication shares are trading higher after the company reported Q4 earnings.

Gulf Island Fabrication shares are trading higher after the company reported a year-over-year increase in Q4 revenue results.

Gulf Island is providing indicative segment and consolidated&nbsp;guidance&nbsp;for the full year 2024. Services segment EBITDA is expected to be approximately&nbsp;$14.0 million, driven primarily by continued growth in the Spark Safety business line.&nbsp;Fabrication segment EBITDA is expected to be approximately&nbsp;$8.0 million, which includes year-over-year growth in the small-scale fabrication business, but excludes the potential benefit of any large project award.

Gulf Island Expects To Exit Q1 With Cash Balance Approaching $60M

Gulf Island Fabrication (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIFI#NASDAQ">GIFI</a>) reported quarterly earnings of $0.430 per share. The company reported $44.550 million in sales this quarter. This is a 16.81 percent increase over sales of $38.139 million the same period last year.

Gulf Island Fabrication Q4 2023 GAAP EPS $0.430, Sales $44.550M Up From $38.139M YoY

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Chemomab Therapeutics Ltd. - American Depositary Shares

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Earnings Scheduled For March 7, 2024

Gulf Island Fabrication (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIFI#NASDAQ">GIFI</a>) is set to give its latest quarterly earnings report on Thursday, 2024-03-07. Here's what investors need to know before the announcement.
Analysts estimate that Gulf Island Fabrication will report an earnings per share (EPS) of $-0.02. 
Gulf Island Fabrication bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Here's a look at Gulf Island Fabrication's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td></td>
<td>-0.09</td>
<td>0</td>
<td>-0.04</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-2.04</td>
<td>0.07</td>
<td>0.04</td>
<td>0.04</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-7.000000000000001%</td>
<td>1.0%</td>
<td>0.0%</td>
<td>-17.0%</td>
</tr>
</tbody>
</table>

<h3>Stock Performance</h3>
Shares of Gulf Island Fabrication were trading at $5.13 as of March 05. Over the last 52-week period, shares are up 16.93%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/GIFI/earnings">To track all earnings releases for Gulf Island Fabrication visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Gulf Island Fabrication's Earnings

Asset Sales

Gulf Island Announces Sale Of Excess Property For Net Cash Proceeds Of ~$8.5M

As of Jan. 18, 2024, four stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Gulf Island Fabrication, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gifi#NASDAQ">GIFI</a>)</h3>
<ul>
<li>On Dec. 4, Gulf Island board approved share repurchase program for up to $5.0 million of common stock, effective from Dec. 15, 2023 through Dec. 15, 2024. The company&rsquo;s stock jumped around 6% over the past month and has a <a href="https://www.benzinga.com/quote/GIFI">52-week high of $5.06 </a>.</li>
<li>RSI Value: 76.19</li>
<li>GIFI Price Action: Shares of Gulf Island Fabrication fell 4.1% to close at $4.40 on Wednesday.</li>
</ul>
<h3>Peabody Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/btu#NYSE">BTU</a>)</h3>
<ul>
<li>On Oct. 26, 2023, Peabody Energy posted weaker-than-expected quarterly earnings. &quot;In the third quarter of 2023, we delivered strong operational results with better-than-expected production and effective cost management. The diversity of our portfolio enables us to provide consistent and predictable results,&quot; said Peabody President and Chief Executive Officer Jim Grech. The company&rsquo;s stock gained around 9% over the past six months and <a href="https://www.benzinga.com/quote/BTU"> has a 52-week high </a> of $31.22.</li>
<li>RSI Value: 71.99</li>
<li>BTU Price Action: Shares of Peabody Energy gained 0.4% to close at $23.27 on Wednesday.</li>
</ul>
<h3>Battalion Oil Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/batl#NYSE">BATL</a>)</h3>
<ul>
<li>On Jan. 9, Battalion Oil received a notice of non-compliance from NYSE American. The company&rsquo;s stock gained around 10% over the past six months and has a <a href="https://www.benzinga.com/quote/BATL"> 52-week high </a> of $12.37.</li>
<li>RSI Value: 77.60</li>
<li>BATL Price Action: Shares of Battalion Oil rose 0.3% to close at $9.62 on Wednesday.</li>
</ul>
<h3>Imperial Petroleum Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/impp#NASDAQ">IMPP</a>)</h3>
<ul>
<li>On Dec. 22, Imperial Petroleum said all 13,875 shares of its Series C Cumulative Convertible Perpetual Preferred Stock have been converted by the holder, Flawless Management Inc, into 6,932,043 shares of the company&#39;s common stock. The company&rsquo;s stock jumped around 31% over the past month and has a 52-week high is $5.7150.</li>
<li>RSI Value: 73.77</li>
<li>IMPP Price Action: Shares of Imperial Petroleum rose 1% to close at $3.05 on Wednesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/24/01/36672724/fastenal-m-t-bank-and-3-stocks-to-watch-heading-into-thursday"> Fastenal, M&amp;T Bank And 3 Stocks To Watch Heading Into Thursday </a>

BATL

IMPP

Top 4 Energy Stocks You May Want To Dump In January

Buybacks

Gulf Island Board Approves Share Repurchase Program For Up To $5.0M Of Common Stock, Effective From December 15, 2023 Through December 15, 2024

The energy industry is set for strong growth due to geopolitical tensions, rising global oil demand, and supply adjustments. Therefore, investors could consider buying energy stocks Valero Energy (VLO), Graham (GHM), and Gulf Island Fabrication (GIFI), which are well-positioned to deliver market-beating returns. Keep reading… The energy industry is well-positioned to grow significantly this year, boosted by rising oil prices due to increased global demand and ongoing tensions in the Middle East. Additionally, production cuts by major oil producers and China's economic recovery will further support the industry's growth.
Amid this backdrop, it could be worth investing in energy stocks Valero Energy Corporation (<a href="https://stocknews.com/stock/VLO/">VLO</a>), Graham Corporation (<a href="https://stocknews.com/stock/GHM/">GHM</a>), and Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>), which are poised to perform well.
The recent attacks by Ukraine on Russian refineries have led to a surge in oil prices to multi-month highs. Traders are now evaluating the potential impact on global petroleum inventories. These drone strikes could disrupt oil production, causing short-term supply shortages and market uncertainty, possibly increasing oil prices.
Over the <a href="https://www.cnbc.com/2024/02/29/oil-on-pace-for-monthly-gain-as-opec-expected-to-extend-production-cuts.html">past two months</a>, oil prices have seen a positive trend due to OPEC+ extending voluntary output cuts by <a href="https://www.reuters.com/business/energy/oil-rises-after-opec-extends-output-cuts-2024-03-04/">2.2 million bpd through Q2</a>, further supported by Russia's additional cut of 417 thousand bpd.
According to OPEC's latest monthly report, global oil demand is projected to increase by <a href="https://www.reuters.com/markets/commodities/opec-sticks-oil-demand-view-nudges-up-economic-growth-again-2024-03-12/">2.25 million bpd in 2024</a> and 1.85 million bpd in 2025. Additionally, the group raised its economic growth forecast for this year, anticipating a world economic growth of 2.8% in 2024. Strong global economic growth is expected to drive higher oil demand.
On top of it, there are indications of a recovery in the Chinese economy, with policymakers actively working to stimulate economic growth. Given that China is the largest importer of crude oil, the government's efforts to revive economic activity are expected to increase demand for crude oil.
Considering these conducive trends, let's analyze the fundamental aspects of the featured energy stocks.
Valero Energy Corporation (<a href="https://stocknews.com/stock/VLO/">VLO</a>)
VLO manufactures, markets, and sells transportation fuels and petrochemical products internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/r/returnonequity.asp">Return on Common Equity</a>, VLO's 35.30% is 98.7% higher than the 17.76% industry average. Likewise, its 18.84% trailing-12-month Return on Total Capital is 127.3% higher than the industry average of 8.29%. Additionally, the stock's 2.24x trailing-12-month asset turnover ratio is 329.6% higher than the industry average of 0.52x.
VLO's revenues for the third quarter ended September 30, 2023, came in at $38.40 billion. Likewise, its operating income came in at $3.50 billion. The company's adjusted net income attributable to VLO stockholders stood at $2.62 billion. In addition, its adjusted earnings per common rose 4.9% over the prior-year quarter to $7.49.
Street expects VLO's revenue for the quarter ending June 30, 2024, to increase 0.9% year over year to $34.80 billion. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past nine months, the stock has gained 51.4% to close the last trading session at $168.49.
VLO's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its solid prospects. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #8 out of 83 stocks in the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry. It has a B grade for Momentum and Quality. <a href="https://stocknews.com/stock/VLO/">Click here</a> for the other VLO ratings for Growth, Value, Stability, and Sentiment.
Graham Corporation (<a href="https://stocknews.com/stock/GHM/">GHM</a>)
GHM and its subsidiaries design and manufacture fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries.
On November 10, 2023, GHM announced the acquisition of P3 Technologies. This acquisition will enhance GHM's turbomachinery solutions with patented technologies and expand into new energy, medical, and existing markets.
In terms of the trailing-12-month levered FCF margin, GHM's 9.21% is 39.9% higher than the 6.58% industry average. Likewise, its 0.84x trailing-12-month asset turnover ratio is 6.2% higher than the 0.79x industry average. Additionally, its 3.65% trailing-12-month Capex/Sales is 20.7% higher than the industry average of 3.02%.
GHM's net sales for the fiscal third quarter ended December 31, 2023, increased 9.9% year-over-year to $43.82 million. The company's adjusted net income and adjusted net income per share grew 182.8% and 175% over the prior-year quarter to $2.42 million and $0.22, respectively. Also, its adjusted EBITDA rose 72.1% from the year-ago value to $3.85 million.
Analysts expect GHM's revenue for the quarter ending March 31, 2024, to increase 3.4% year over year to $44.50 million. Its EPS for the quarter ending September 30, 2024, is expected to increase 50% year over year to $0.06. Over the past nine months, the stock has gained 101.6%, closing the last trading session at $25.95.
GHM's positive outlook is reflected in its POWR Ratings. Its overall rating is B, which equates to a Buy in our proprietary rating system.
It has an A grade for Sentiment and a B for Growth. It is ranked #11 in the <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry. To see GHM's Value, Momentum, Stability, and Quality ratings, <a href="https://stocknews.com/stock/GHM/">click here</a>.
Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>)
GIFI and its subsidiaries are fabricators of steel structures and modules in the United States. They operate through the Services, Fabrication, and Shipyard divisions. The company provides various services, including maintenance, construction, and fabrication of steel structures, project management, commissioning, civil construction, staffing, and offshore platform support.
In terms of the trailing-12-month asset turnover ratio, GIFI's 1.15x is 120% higher than the 0.52x industry average.
GIFI's adjusted revenue for the fiscal fourth quarter, which ended on December 31, 2023, grew 16.4% year-over-year to $43.99 million. Its adjusted gross profit rose 77.3% from the year-ago value to $8.37 million.
The company's net income and net income per share increased considerably over the prior-year quarter to $288.35 million and $0.74, respectively. Its new project rewards were $44.40 million, up 17% year-over-year.
For the quarter ending March 31, 2024, GIFI's EPS is expected to increase 100% year over year to $0.08. Over the past nine months, the stock has gained 131.5%, closing the last trading session at $7.50.
GIFI's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which translates to a Buy in our proprietary rating system. It has an A grade for Growth and Sentiment and a B for Momentum. Within the <a href="https://stocknews.com/category/energy-drilling/">Energy - Drilling</a> industry, it is ranked #2 out of 15 stocks. 
In total, we rate GIFI on eight different levels. Beyond what we stated above, we also have given GIFI grades for Value, Stability, and Quality. Get all the GIFI ratings <a href="https://stocknews.com/stock/GIFI/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
VLO shares were trading at $167.47 per share on Tuesday afternoon, down $1.02 (-0.61%). Year-to-date, VLO has gained 29.80%, versus a 9.97% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/vlo-ghm-gifi-3-energy-stocks-setting-up-for-market-dominance/>3 Energy Stocks Setting up for Market Dominance</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Energy Stocks Setting up for Market Dominance

Geopolitical tensions, increasing global demand for oil and natural gas, supply limitations, and technological innovations are paving the way for robust growth of the energy sector. Hence, top energy stocks such as DNOW (DNOW), Geospace Technologies (GEOS), and Gulf Island Fabrication (GIFI) might be solid investments for April. Read more... The energy sector's prospects appear promising amid ongoing geopolitical tensions, expectations of interest rate cuts, and bullish market sentiment. Factors like output cuts, stable demand outlook, and fears of geopolitical tensions spreading in the Middle East are contributing to this positive market sentiment.
Amid this backdrop, investors could consider buying energy stocks DNOW Inc. (<a href="https://stocknews.com/stock/DNOW/">DNOW</a>), Geospace Technologies Corporation (<a href="https://stocknews.com/stock/GEOS/">GEOS</a>), and Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>) in April.
Oil prices have been rising lately due to the potential <a href="https://edition.cnn.com/2024/04/02/middleeast/iran-response-israel-damascus-consulate-attack-intl-hnk/index.html">widening of tensions</a> in the Middle East, OPEC+'s decision to stick with <a href="https://www.reuters.com/business/energy/opec-ministers-keep-oil-output-policy-steady-sources-say-2024-04-03/">oil supply cuts</a> through the first half of the year, <a href="https://oilprice.com/Latest-Energy-News/World-News/Mexico-Set-to-Slash-Oil-Exports-by-Over-300000-Bpd-in-May.html">Mexico's oil export cuts</a>, and Ukrainian drone attacks on Russia's oil facilities, which have <a href="https://www.reuters.com/world/europe/ukraine-strikes-may-have-hit-15-russian-refinery-capacity-nato-official-2024-04-04/">disrupted Russian fuel output</a>. The likelihood of crude oil prices rising appears bright due to stable demand trends amid supply limitations.
Moreover, a <a href="https://www.reuters.com/markets/us/us-job-growth-beats-expectations-march-wages-increase-steadily-2024-04-05/">robust U.S. job market</a>, a fast-rebounding Chinese economy, and expectations of three interest rate cuts by the Federal Reserve this year signal stable demand for crude. Vitol expects robust global oil demand growth this year at around <a href="https://oilprice.com/Latest-Energy-News/World-News/Top-Commodity-Trader-Sees-Oil-in-80-100-Range-This-Year.html">1.9 million barrels per day</a> higher than last year. JP Morgan analysts expect oil prices to hit <a href="https://www.msn.com/en-us/money/markets/russian-cuts-to-crude-output-may-bring-100-oil-jp-morgan-says/ar-BB1kDVBN">$100 by September</a>.
The potential rise in oil demand could be advantageous for companies involved in drilling, evaluation, production, and maintenance services. The global oilfield services market is anticipated to thrive and is projected to expand at a <a href="https://www.linkedin.com/pulse/oilfield-services-market-booming-insights-brg8c/?trk=article-ssr-frontend-pulse_more-articles_related-content-card">CAGR of 6.5%</a>, reaching $175.03 billion by 2031.
Considering these conducive trends, let's analyze the fundamental aspects of the featured energy stocks.
DNOW Inc. (<a href="https://stocknews.com/stock/DNOW/">DNOW</a>)
DNOW distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and industrial manufacturing operations internationally. It offers its products under the DistributionNOW and DNOW brand names.
On March 12, 2024, DNOW announced the completion of its acquisition of Whitco Supply, LLC. This move will bolster DNOW's capabilities in core markets and reinforce its commitment to shareholder value through strategic capital deployment.
DNOW's President and CEO, David Cherechinsky, predicts that the acquisition of Whitco Supply will increase market share and expansion in the midstream sector, fostering synergy between their respective businesses.
In terms of the trailing-12-month net income margin, DNOW's 10.64% is 79.6% higher than the 5.93% industry average. Likewise, its 25.55% trailing-12-month Return on Common Equity is 114.5% higher than the 11.91% industry average. Also, its 1.63x trailing-12-month <a href="https://www.investopedia.com/terms/a/assetturnover.asp">asset turnover ratio</a> is 105.7% higher than the 0.79x industry average.
For the fiscal fourth quarter that ended on December 31, 2023, DNOW's revenue increased 1.5% year-over-year to $555 million. Its operating profit stood at $32 million. The company's non-GAAP net income attributable to DNOW, excluding other costs, and non-GAAP EPS attributable to DNOW stockholders, excluding other costs, came in at $24 million and $0.22, respectively.
Additionally, as of December 31, 2023, DNOW's total assets amounted to $1.53 billion, compared to $1.32 billion as of December 31, 2022.
Street expects DNOW's EPS for the quarter ending June 30, 2024, to increase 2% year-over-year to $0.26. Its revenue for the quarter ending September 30, 2024, is expected to increase 5.3% year-over-year to $619.23 million. It surpassed the Street EPS estimates in three of the trailing four quarters. Over the past three months, the stock has gained 47.9% to close the last trading session at $15.43.
DNOW's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its solid prospects. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #7 out of 49 stocks in the <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry. It has an A grade for Value and Momentum and a B for Quality. <a href="https://stocknews.com/stock/DNOW/">Click here</a> to see the other ratings of DNOW for Growth, Stability, and Sentiment.
Geospace Technologies Corporation (<a href="https://stocknews.com/stock/GEOS/">GEOS</a>) 
GEOS designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data to locate, characterize, and monitor hydrocarbon-producing reservoirs. The company operates through three segments: Oil and Gas Markets, Adjacent Markets, and Emerging Markets.
On January 3, 2024, GEOS announced a $30 million contract for its Mariner shallow-water ocean bottom nodes, replacing a previous $20 million contract. Delivery is complete, and revenue recognition is slated for the first quarter of fiscal year 2024.
In terms of the trailing-12-month asset turnover ratio, GEOS' 0.94x is 80.9% higher than the 0.52x industry average. Its 14.93% trailing-12-month Return on Total Assets is 121.3% higher than the 6.74% industry average. Additionally, its 7% trailing-12-month levered FCF margin is 8.5% higher than the 6.46% industry average.
GEOS' total revenue for the fiscal first quarter that ended December 31, 2023, increased 60.8% over the prior-year quarter to $50.03 million. The company's gross profit rose 111.1% year-over-year to $22.24 million.
For the same quarter, its net income and net income per share stood at $12.68 million and $0.94 per share, respectively, compared to the year-ago quarter's net loss of $97 thousand and $0.01 per share.
Over the past nine months, GEOS' stock has gained 71.4% to close the last trading session at $13.54.
GEOS' positive outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It has an A grade for Growth and a B for Value, Momentum, and Quality. It is ranked #3 in the Energy - Services industry. To see GEOS' Stability and Sentiment ratings, <a href="https://stocknews.com/stock/GEOS/">click here</a>.
Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>)
GIFI is a fabricator of steel structures and modules in the United States. It operates through the Services, Fabrication, and Shipyard divisions. The company provides various services, including maintenance, construction, and fabrication of steel structures, project management, commissioning, civil construction, staffing, and offshore platform support.
In terms of the trailing-12-month asset turnover ratio, GIFI's 1.15x is 121.2% higher than the 0.52x industry average.
GIFI's adjusted revenue for the fiscal fourth quarter, which ended on December 31, 2023, grew 16.4% year-over-year to $43.99 million. The company's adjusted gross profit rose 77.3% from the year-ago value to $8.37 million. Its new project rewards were $44.40 million, up 17% year-over-year.
Moreover, GIFI's net income and net income per share increased considerably over the prior-year quarter to $288.35 million and $0.74, respectively.
For the quarter ending March 31, 2024, GIFI's EPS is expected to increase 100% year-over-year to $0.08. Over the past nine months, the stock has gained 96.8% to close the last trading session at $6.65.
GIFI's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A grade for Growth and Sentiment and a B for Momentum. Within the <a href="https://stocknews.com/category/energy-drilling/">Energy - Drilling</a> industry, it is ranked #2 out of 15 stocks. In total, we rate GIFI on eight different levels. Beyond what we stated above, we also have given GIFI grades for Value, Stability, and Quality. Get all the GIFI ratings <a href="https://stocknews.com/stock/GIFI/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>
<hr />
DNOW shares were trading at $15.22 per share on Tuesday afternoon, down $0.21 (-1.36%). Year-to-date, DNOW has gained 34.45%, versus a 9.12% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/dnow-geos-gifi-3-hot-energy-stocks-gaining-altitude-in-april/>3 Hot Energy Stocks Gaining Altitude in April</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Hot Energy Stocks Gaining Altitude in April

Oil and gas prices have been surging lately due to an improving demand outlook and persistent supply risks amid geopolitical tensions, creating tailwinds for the energy sector. Thus, it could be wise to invest in fundamentally sound energy stocks Cenovus Energy (CVE), Weatherford International (WFRD), and Gulf Island Fabrication (GIFI) for rapid growth in May. Read on… Amid rising economic and geopolitical uncertainties followed by oil production cuts by OPEC+ members and Mexico, oil demand is surging rapidly with limited supply, leading to hiked prices. Brent crude futures <a href="https://tradingeconomics.com/commodity/brent-crude-oil">surged above $89 per barrel</a> lately and are set to gain nearly 2% this week.
Given the industry tailwinds, it could be wise to invest in fundamentally sound energy stocks Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>), Weatherford International plc (<a href="https://stocknews.com/stock/WFRD/">WFRD</a>), and Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>) for significant growth in May.
According to the World Bank, the outbreak of a major conflict in the Middle East could trigger an energy shock, pushing <a href="https://www.cnbc.com/2024/04/25/middle-east-escalation-could-trigger-energy-shock-that-fuels-inflation-world-bank-warns.html">oil prices over $100 a barrel</a>. Earlier this month, tensions in the Middle East escalated as Israel and OPEC member Iran appeared on the brink of war, increasing fears of crude oil supply disruptions.
In an attempt to supply more to its domestic refineries for energy self-sufficiency, <a href="https://www.reuters.com/business/energy/mexico-cut-least-330000-bpd-crude-exports-may-sources-say-2024-04-08/">Mexico's state energy company</a>, Pemex, plans to cut at least 330,000 barrels per day (bpd) of crude exports in the next month. This will leave customers in economies like the U.S., Europe, and Asia, further constraining supply.
Tighter oil supplies due to OPEC+ cuts, <a href="https://www.mckinsey.com/industries/oil-and-gas/our-insights/oil-and-gas-blog/snapshot-of-global-oil-supply-and-demand">resilient economic growth</a>, and continued geopolitical uncertainty propel steady oil price hikes. Moreover, EIA forecasted that Brent crude oil spot price will average $90 per barrel in the second quarter of 2024, which is $2/b more than its March STEO, and it expects the <a href="https://www.eia.gov/outlooks/steo/">prices to average $89/b in 2024</a>.
The global oil and gas market is expected to reach $65.80 billion by 2032, exhibiting a <a href="https://www.imarcgroup.com/oil-gas-market">CAGR of 15.8%</a> during the forecast period (2024-2032). Meanwhile, the global <a href="https://www.skyquestt.com/report/offshore-drilling-market">offshore drilling market</a> is projected to grow at a CAGR of 8.2% to total $197.93 billion by 2031.
Moreover, investors' interest in energy stocks is evident from the Vanguard Energy ETF's (<a href="https://stocknews.com/stock/VDE/">VDE</a>) 20.7% returns over the past year.
Given the industry's robust outlook, investing in quality energy stocks such as CVE, WFRD, and GIFI could be wise for future gains.
Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>)
Headquartered in Calgary, Canada, CVE develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. It operates through segments like Oil Sands; Conventional; Offshore, Canadian Refining; and U.S. Refining.
CVE's revenue and <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> have grown at respective CAGRs of 56.8% and 172.8% over the past three years. The company's tangible book value has increased at a CAGR of 20.7% over the same timeframe, while its total assets have improved at a CAGR of 18.1%.
On February 15, 2024, CVE's Board of Directors declared a quarterly base dividend of $0.14 per common share, paid on March 28, 2024, to shareholders of record as of March 15, 2024.
Also, the Board declared a quarterly dividend on each of the cumulative redeemable first preferred shares – Series 1 ($0.16), Series 2 ($0.42), Series 3 ($0.29), Series 5 ($0.29) and Series 7 ($0.24) – paid on April 1, 2024, to shareholders of record as of March 15, 2024.
CVE pays an annual dividend of $0.42 per share, which translates to a yield of 1.96% on the current share price. Its four-year average dividend yield is 1.50%. The company's dividend payouts have grown at a CAGR of 210% over the past three years.
On December 13, 2023, CVE announced its 2024 budget, expecting to invest capital of between $4.5 billion and $5.0 billion in 2024. Total upstream production is expected to be between 770,000 and 810,000 barrels of oil equivalent per day (BOE/d), and oil sands and thermal projects production is expected to be between 590,000 and 610,000 barrels per day (bbls/d).
CVE reported revenues of C$13.13 billion ($9.60 billion) during the fourth quarter that ended December 31, 2023, and its earnings before income tax were C$974 million ($711.81 million) for the quarter. The company's net earnings came in at C$743 million ($542.99 million) and C$0.39 per share, respectively.
Furthermore, as of December 31, 2023, the company's cash and cash equivalents and total assets stood at C$2.23 billion ($1.63 billion) and C$53.91 billion ($39.40 billion), respectively.
Analysts expect CVE's revenue for the first quarter (ended March 2024) to increase 14.2% year-over-year to $10.76 billion, and its EPS for the same quarter is expected to grow 40.9% year-over-year to $0.37. For the fiscal year 2024, the company's revenue and EPS are expected to grow 5.8% and 23.4% year-over-year to $41.03 billion and $1.97, respectively.
Shares of CVE have surged 8.5% over the past month and 25.1% over the past year to close the last trading session at $21.28.
CVE's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
CVE has an A grade for Sentiment and a B grade for Growth. It is ranked #13 out of 82 stocks in the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry.
In addition to the POWR Ratings we've stated above, we also have other ratings of CVE for Quality, Momentum, Stability, and Value. Get all CVE ratings <a href="https://stocknews.com/stock/CVE/">here</a>.
Weatherford International plc (<a href="https://stocknews.com/stock/WFRD/">WFRD</a>)
WFRD is an energy services company that offers equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells globally. It operates in three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.
Revenue and EBITDA of WFRD have grown at respective CAGRs of 17.1% and 76.7% over the past three years. The company's tangible book value has increased at a CAGR of 249.5% over the same timeframe.
On December 6, 2023, WFRD was awarded a five-year contract by Petróleo Brasileiro S.A. in Brazil to provide Drill Pipe Riser (DPR) ultra-deepwater offshore intervention systems and services whose operations will commence in March 2025.
The deal reflects the efficiency of WFRD's Intervention Workover Control Systems (IWOCS) and highlights the strength of its Brazilian operations.
On November 3, 2023, WFRD signed a MOU with Honeywell to deliver a combined CygNet&#x2122; SCADA and Honeywell Emissions Management suite for advanced emissions management and accelerating its customers' decarbonization strategy. This provides cutting-edge tools, actionable data, and real-time progress monitoring to enable their net-zero journey.
During the first quarter that ended March 31, 2024, WFRD's total revenues rose 14.5% year-over-year to $1.36 billion. Its operating income increased 25.9% year-over-year to $233 million. Also, net income attributable to Weatherford came in at $123 million or $1.50 per share, indicating growth of 51.8% and 54.6% from the year-ago value, respectively.
In addition, its adjusted EBITDA rose 24.9% from the previous year's quarter to $336 million. The company's adjusted free cash flow grew 203.7% from the year-ago value to $82 million.
Street expects WFRD's revenue and EPS for the second quarter (ending June 2024) to increase 12% and 50.6% year-over-year to $1.43 billion and $1.72, respectively. Furthermore, the company surpassed the consensus revenue estimates in each of the trailing four quarters, which is impressive.
Over the past six months, WFRD's stock has gained 33% and 108.1% over the past year to close the last trading session at $123.65.
WFRD's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Momentum, and Quality. Within the Energy – Oil &amp; Gas industry, WFRD is ranked #12 of 82 stocks.
<a href="https://stocknews.com/stock/WFRD/">Click here</a> to access additional ratings of WFRD for Sentiment, Stability, and Value.
Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>)
GIFI operates as a fabricator of steel structures and modules. The company operates through Services; Fabrication; and Shipyard divisions. It offers maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities.
On February 27, GIFI completed the sale of certain excess property, which was part of the company's facilities located in Houma, Louisiana, for net cash proceeds of approximately $8.5 million.
"A key aspect of our strategic transformation has been to improve our resource and facility utilization and the sale of this property at our Houma facility is consistent with this objective," commented Richard Heo, Gulf Island's President and Chief Executive Officer.
For the fourth quarter that ended December 31, 2023, GIFI's revenue increased 16.8% year-over-year to $44.55 million, and its gross profit rose 77.2% from the year-ago value to $8.37 million. The company's operating income of $6.67 million indicates growth of 1656.6% from the prior year's quarter.
In addition, the company's net income came in at $7.09 million or $0.43 per share, up 1191.4% and 975% year-over-year, respectively. Its adjusted EBITDA increased 188.1% from the year-ago value to $6.61 million.
Analysts expect GIFI's EPS for the first quarter (ended March 2024) to increase 100% year-over-year to $0.08. Its revenue for the same period is expected to be $43 million. Moreover, the company topped the consensus revenue estimates in each of the trailing four quarters.
GIFI's stock has surged 67.3% over the past six months and 96.5% over the past year to close the last trading session at $6.76.
GIFI's POWR Ratings reflect its bright prospects. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
GIFI has an A grade for Sentiment and Growth. The stock also has a B grade for Momentum. The stock is ranked #2 among 15 stocks in the <a href="https://stocknews.com/category/energy-drilling/">Energy - Drilling</a> industry.
To access GIFI's other ratings, <a href="https://stocknews.com/stock/GIFI/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
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<hr />
CVE shares rose $0.07 (+0.33%) in premarket trading Friday. Year-to-date, CVE has gained 28.95%, versus a 7.21% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/cve-wfrd-gifi-3-energy-stocks-poised-for-rapid-growth-in-may/>3 Energy Stocks Poised for Rapid Growth in May</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Energy Stocks Poised for Rapid Growth in May

The energy market is poised for robust growth this year, owing to the ongoing geopolitical tensions, supply constraints arising out of the extension of production cuts by OPEC+, and expectations of interest rate cuts this year. Given this backdrop, investors could consider buying quality energy stocks such as Star Group (SGU), Geospace Technologies (GEOS), and Gulf Island Fabrication (GIFI), currently trading under $15. Read on... Despite the growing popularity of renewable energy, the demand for oil and gas is not expected to decline anytime soon. In fact, oil and gas demand is forecasted to grow. Increased drilling activities, anticipation of interest rate cuts, a recovering Chinese economy, and geopolitical tensions are likely to drive the growth of the energy sector this year.
Amid this backdrop, investors could consider buying fundamentally strong energy stocks such as Star Group, L.P. (<a href="https://stocknews.com/stock/SGU/">SGU</a>), Geospace Technologies Corporation (<a href="https://stocknews.com/stock/GEOS/">GEOS</a>), and Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>), currently trading under $15. Before diving deeper into the fundamentals of these stocks, let's discuss what's shaping the energy industry's prospects.
In its Short-Term Energy Outlook (STEO) report, the U.S. Energy Information Administration (EIA) said that it expects Brent crude oil to average around $90 per barrel in the second quarter this year, a $2/b increase from last month's report. In addition, they expect Brent crude oil prices to hover <a href="https://www.eia.gov/outlooks/steo/">around $89/b in 2024</a>.
Ongoing tensions in the Middle East have raised concerns over the supply of crude oil and natural gas, as the region produces a significant percentage of the world's total oil and gas output. The World Bank believes that any escalation of tensions in the Middle East would push the oil prices <a href="https://www.theguardian.com/business/2024/apr/25/oil-price-could-exceed-100-a-barrel-if-middle-east-conflict-worsens-world-bank-warns">above $100</a>.
The Energy Information Association (EIA) lifted global oil consumption forecasts for this year by 0.5% to <a href="https://www.reuters.com/markets/commodities/us-eia-raises-oil-output-price-forecasts-2024-2024-04-09/">102.91 million bpd</a> and by 0.4% to 104.26 million bpd for 2025. OPEC forecasts that world oil demand will increase by <a href="https://www.reuters.com/business/energy/opec-sees-robust-summer-oil-demand-economic-upside-potential-2024-04-11/">2.25 mb/d in 2024</a> and 1.85 mb/d in 2025.
Given the energy sector's promising prospects, the demand for energy services looks promising. Energy services involve providing advanced technology, analytics, and personalized services to the energy industry participants. The global energy as a service market is estimated to reach $208.20 million by 2032, growing at an <a href="https://www.fortunebusinessinsights.com/industry-reports/energy-as-a-service-market-101204">11.8% CAGR</a>.
Meanwhile, several technological advancements in drilling, like horizontal drilling and hydraulic fracturing, have bolstered drilling activities and helped in the efficient and cost-effective extraction of oil and gas. The global drilling services market is expected to reach $17.44 billion by 2027, growing at a <a href="https://www.fortunebusinessinsights.com/drilling-services-market-104784">CAGR of 8.6%</a>.
Considering these factors, let's examine the fundamentals of the three energy sector stocks mentioned above.
Star Group, L.P. (<a href="https://stocknews.com/stock/SGU/">SGU</a>)
SGU provides home heating oil and propane products and services to residential and commercial customers in the U.S. It offers gasoline and diesel fuel and installs, maintains, and repairs heating and air conditioning equipment.
SGU's trailing-12-month Return on Common Equity of 10.57% is 19% higher than the industry average of 8.89%. Its trailing-12-month Return on Total Capital and Return on Total Assets of 5.71% and 3.29% are 46.2% and 38.2% higher than the industry averages of 3.91% and 2.38%, respectively.
SGU's total sales and operating income for the fiscal first quarter that ended December 31, 2023, stood at $528.10 million and $21.62 million, respectively. In addition, its <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> stood at $49.04 million. For the same quarter, its net income and EPS stood at $12.98 million and $0.36, respectively.
The stock has gained 9.9% over the past month to close the last trading session at $11.10.
SGU's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall A rating, equating to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
It has an A grade for Quality and a B for Value, Momentum, and Sentiment. It is ranked #3 out of 24 stocks in the A-rated <a href="https://stocknews.com/category/oil-gas-mlps/">MLPs - Oil &amp; Gas</a> industry. <a href="https://stocknews.com/stock/SGU/">Click here</a> to see the additional POWR Ratings for SGU (Growth and Stability).
Geospace Technologies Corporation (<a href="https://stocknews.com/stock/GEOS/">GEOS</a>)
GEOS designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data in order to locate, characterize, and monitor hydrocarbon-producing reservoirs. The company operates through three segments: Oil and Gas Markets, Adjacent Markets, and Emerging Markets.
On April 18, GEOS announced the product release of an all-in-one, ultralight weight, land-based, wireless seismic data acquisition solution known as Pioneer, which weighs less than 0.5kg, featuring a 5Hz geophone, specially designed by GEOS with a small form factor and reduced weight.
The product aims to reduce overall operating and ownership costs by lowering the deployment footprint and its benefits of lower power consumption, smaller size, and less weight resulting in reduced logistics and lower fuel costs, enabling crews to deploy much faster with greater efficiency.
On January 3, GEOS announced a $30 million contract with an international marine geophysical services provider to purchase the company's latest shallow-water ocean bottom node, Mariner. Mariner is a shallow-water seabed seismic data acquisition node designed with inductive charging and data download, making it a connector-free device.
GEOS' trailing-12-month net income margin and levered FCF margin of 17.42% and 7% are 36.2% and 4.7% higher than the industry averages of 12.79% and 6.69%, respectively.
For the fiscal first quarter that ended December 31, 2023, GEOS' total revenue and gross profit increased 60.8% and 111.1% year-over-year to $50.03 million and $22.24 million, respectively. For the same quarter, its net income and income per common share stood at $12.68 million and $0.94, compared to net loss and loss per common share of $97 thousand and $0.01 in the year-ago quarter, respectively.
The stock has gained 70.1% over the past year to close the last trading session at $12.64.
GEOS' POWR Ratings reflect its positive prospects. It has an overall A rating, equating to a Strong Buy in our proprietary rating system.
GEOS has an A grade for Growth and a B for Value, Momentum, and Quality. Within the <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry, it is ranked #3 out of 50 stocks. To see the additional POWR Ratings of GEOS for Stability and Sentiment, <a href="https://stocknews.com/stock/GEOS/">click here</a>.
Gulf Island Fabrication, Inc. (<a href="https://stocknews.com/stock/GIFI/">GIFI</a>)
GIFI operates as a fabricator of steel structures and modules in the U.S. It operates through Services, Fabrication, and Shipyard divisions.
GIFI's trailing-12-month asset turnover ratio of 1.15x is 120.5% higher than the industry average of 0.52x.
GIFI's adjusted revenue and gross profit for the fiscal fourth quarter that ended December 31, 2023, increased 16.4% and 77.3% year-over-year to $43.99 million and $8.37 million, respectively. In addition, its adjusted EBITDA stood at $6.61 million, up 188.1% from the prior-year quarter.
For the same quarter, its net income increased considerably from the year-ago quarter to $7.09 million, and income per share stood at $0.43, up 975% from the prior-year quarter.
Street expects GIFI's EPS for the quarter that ended March 31, 2024, to increase 100% year-over-year to $0.08. The stock has gained 106% over the past nine months to close the last trading session at $6.84.
GIFI's POWR Ratings reflect this promising outlook. It has an overall rating of B, equating to Buy in our proprietary rating system.
GIFI has an A grade for Growth and Sentiment and a B for Momentum. Within the <a href="https://stocknews.com/category/energy-drilling/">Energy - Drilling</a> industry, it is ranked first out of 15 stocks. To see GIFI's Value, Stability, and Quality ratings, <a href="https://stocknews.com/stock/GIFI/">click here</a>.
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<hr />
SGU shares were trading at $11.10 per share on Monday morning, down $0.19 (-1.68%). Year-to-date, SGU has declined -0.84%, versus a 7.61% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/sgu-geos-gifi-3-energy-stocks-under-15-worth-considering/>3 Energy Stocks Under $15 Worth Considering</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Energy Stocks Under $15 Worth Considering

Gulf Island Fabrication GAAP EPS of $0.37 beats by $0.29, revenue of $42.9M misses by $0.1M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Gulf Island Fabrication (NASDAQ:<a href="https://investorplace.com/stock-quotes/gifi-stock-quote/">GIFI</a>) just reported results for the first quarter of 2024.<ul><li>Gulf Island Fabrication reported earnings per share of 37 cents. This was above the analyst estimate for EPS of 8 cents.</li><li>The company reported revenue of $42.88 million.</li><li>This was 0.28% worse than the analyst estimate for revenue of $43.00 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/gifi-stock-earnings-gulf-island-fabrication-for-q1-of-2024/">GIFI Stock Earnings: Gulf Island Fabrication Beats EPS, Misses Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

GIFI Stock Earnings: Gulf Island Fabrication Beats EPS, Misses Revenue for Q1 2024

Gulf Island Fabrication, Inc. (GIFI) Q1 2024 Earnings Call Transcript

Gulf Island Fabrication: Turnaround Complete, Market Still Late To The Party

Gulf Island Fabrication GAAP EPS of $0.11 misses by $0.03, revenue of $41.3M misses by $3.2M

Gulf Island Fabrication, Inc. (GIFI) Q2 2024 Earnings Call Transcript

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Gulf Island Fabrication (GIFI) Forecast

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