NEW YORK ( TheStreet) -- Shares of Double Eagle Petroleum Company (Nasdaq: DBLE) have taken a tremendous swing upward. The stock is trading at $11.11 as of 3:10 p.m. ET, 20.9% above Wednesday's closing price of $9.19. Volume is at 875,514, 3.1 times the daily average of 281,800.

Double Eagle has a market cap of $98.7 million and is part of the basic materials sector and energy industry. Shares are up 86.4% year to date as of the close of trading on Wednesday.

Double Eagle Petroleum Co., an energy company, engages in the exploration, development, production, and sale of natural gas and crude oil primarily in the Rocky Mountain Basins of the western United States. The company has a P/E ratio of 55.1, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 16.8.

TheStreet Ratings rates Double Eagle as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and feeble growth in the company's earnings per share. You can view the full Double Eagle Ratings Report.

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