Movement Alert|Cheniere Falls 3.03% in Regular Trading, Q2 EPS Slightly Misses Estimate Triggering Profit-Taking Amid Sector Weakness

Market Focus03:45

On August 8, Cheniere declined 3.03% in regular trading, trading at $257.85/share, with turnover of $336 million. The pullback follows a post-earnings rally earlier in the week as profit-taking set in alongside broad sector weakness.

Cheniere reported Q2 adjusted EPS of $3.02, marginally missing the consensus estimate of $3.04 by 0.66%. However, quarterly revenue of $5.732 billion significantly beat the $4.895 billion estimate by 17.10%, and GAAP EPS surged to $14.65 from $7.30 a year earlier. On earnings day, shares had rallied approximately 3.4%, but the slight EPS miss provided a catalyst for subsequent selling pressure.

Within the Oil & Gas Storage & Transportation sector, the overall sector declined broadly. Among individual stocks, Targa Resources down 4.49%, ONEOK down 1.79%, Williams down 1.76%, Energy Transfer LP down 0.71%, Enbridge down 0.36%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment