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 oilfield service specialist Complete Production Services
So what: Despite a market-topping 88% jump in revenue, Complete Production managed to post a quarterly profit of just $0.49 per share, versus the average analyst estimate of $0.53 per share. The shares had risen more than 100% over the past year and sport a beta of around three, so Mr. Market's ultra-negative reaction to the miss shouldn't be a huge surprise.
Now what: Complete Production is certainly worth looking into. Despite the stock's price strength over the past year, it currently sports a paltry forward P/E under 10, representing a clear discount to gorilla rivals such as Baker Hughes
Interested in more info on Complete Production? Add it to your watchlist.
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