Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of LNG company Golar LNG Limited (NASDAQ:GLNG) jumped as much as 10% today after reporting earnings.

So what: Revenue was up slightly sequentially, to $17.3 million, and easily beat the $12.8 million level Wall Street expected. Net income of $4.3 million also easily exceeded the $5 million loss that analysts expected. 

Now what: The surprise profit did include a non-cash gain of $13.2 million on interest-rate swaps, which isn't exactly a consistent driver of value. Investors are expecting earnings to double next year, but even if they do, shares are trading at 46 times forward estimates. That's too much for me to pay for the stock right now, and I need to see more growth before jumping in.

Another energy stock to keep an eye on
Imagine a company that rents a very specific and valuable piece of machinery for $41,000... per hour (that's almost as much as the average American makes in a year!). And Warren Buffett is so confident in this company's can't-live-without-it business model, he just loaded up on 8.8 million shares. An exclusive, brand-new Motley Fool report reveals the company we're calling OPEC's Worst Nightmare. Just click HERE to uncover the name of this industry-leading stock... and join Buffett in his quest for a veritable LANDSLIDE of profits!

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.