Nexen Stock Soars (NXY)

NEW YORK ( TheStreet) -- Shares of Nexen (NYSE: NXY) have taken a tremendous swing upward. The stock is trading at $26.15 as of 9:30 a.m. ET, 53.3% above Friday's closing price of $17.06. Volume is at 34.2 million, 13.9 times the daily average of 2.5 million.

Nexen has a market cap of $9.15 billion and is part of the basic materials sector and energy industry. Shares are up 7.2% year to date as of the close of trading on Friday.

Nexen Inc. operates as an independent energy company worldwide. The company's Conventional Oil and Gas segment explores for, develops, and produces crude oil and natural gas from conventional sources. The company has a P/E ratio of 14.4, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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

See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.

null

More from Markets

Daimler Slumps After Profit Warning Cites 'Import Tariffs' in US-China Trade War

Daimler Slumps After Profit Warning Cites 'Import Tariffs' in US-China Trade War

Oil Prices Slide as Saudi Energy Minister Suggests OPEC Output Deal Imminent

Oil Prices Slide as Saudi Energy Minister Suggests OPEC Output Deal Imminent

Global Stocks Mixed, Dollar Firm as Trade Tensions Keep Investors Cautious

Global Stocks Mixed, Dollar Firm as Trade Tensions Keep Investors Cautious

FTC Chair Says Agency Is Ready to Take on Big Tech; Walgreens Joins Dow -- ICYMI

FTC Chair Says Agency Is Ready to Take on Big Tech; Walgreens Joins Dow -- ICYMI

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record