Credo Stock Soars (CRED)

NEW YORK ( TheStreet) -- Shares of Credo Petroleum Corporation (Nasdaq: CRED) have taken a tremendous swing upward. The stock is trading at $14.28 as of 9:30 a.m. ET, 31.5% above Friday's closing price of $10.86. Volume is at 19,344, 2.8 times the daily average of 6,900.

Credo has a market cap of $104.7 million and is part of the basic materials sector and energy industry. Shares are up 2.3% year to date as of the close of trading on Friday.

CREDO Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and marketing of crude oil and natural gas properties in the Mid-Continent and Rocky Mountain regions of the United States. The company has a P/E ratio of 30.7, above the average energy industry P/E ratio of 23.7 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Credo as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Credo Ratings Report.

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