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SemGroup (SEMG) Surges: Stock Moves 8.4% Higher

Zacks Equity Research

SemGroup Corporation SEMG was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $11.94 –$15.14 in the past one-month time frame, witnessed a sharp increase yesterday.

The move came after the company announced that it has entered into an asset joint venture deal with Keyera Corp. for building a natural gas liquids along with condensate pipeline system.

The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

SemGroup currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is positive. 

SemGroup Corporation Price

SemGroup Corporation Price

SemGroup Corporation price | SemGroup Corporation Quote

Investors interested in the Oil and Gas - Production and Pipelines industry may consider Holly Energy Partners, L.P. HEP, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is SEMG going up? Or down? Predict to see what others think: Up or Down

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