Crestwood Equity Partners LP (CEQP) saw a big move last session, as the company’s shares fell by about 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for AXE, as the stock is now down 23.1% since July 25.
This slump shouldn’t be too much of a surprise to investors, as this oil and gas services provider has seen 4 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
CEQP currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Oil/Gas Production Pipeline MLP industry include Sunoco Logistics Partners L.P. (SXL), Delek Logistics Partners, LP (DKL) and Plains All American Pipeline, L.P. (PAA). While Sunoco holds a Zacks Rank #1 (Strong Buy), Delek and Plains All American hold a Zacks Rank #2 (Buy).
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CRESTWOOD EQUITY PARTNERS LP (CEQP): Free Stock Analysis Report
SUNOCO LOGISTICS PRTNRS L P (SXL): Free Stock Analysis Report
DELEK LOGISTICS PARTNERS LP (DKL): Free Stock Analysis Report
PLAINS ALL AMERICAN PIPELINE LP (PAA): Free Stock Analysis Report
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