Energy Sector: Largest Bullish Revisions For Q2 EPS

The energy sector late last year and particular the first few months of 2015 saw a collapsing oil that just would not find a bottom, consistent downgrades and negative forward guidance revisions. However, over the past two months, the price of crude has successfully rallied and held around the $60 a barrel range, which has enticed drillers.  In fact, last week the Baker Hughes weekly drilling rig figures showed that the rig slowdown is reaching a breaking point.  The price of crude has rallied 3% year to date and bullish second quarter revisions to energy sector imply that crude prices could continue to stabilize and move higher.