Basic material overbought stocks: Abraxas Petroleum (NASDAQ:AXAS), Goodrich Petroleum (NYSE:GDP), Advantage Oil & Gas (NYSE:AAV), Phillips 66 Partners (NYSE:PSXP)

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Better-ranked oil and gas operators include Zacks Ranked #2 (Buy) Abraxas Petroleum Corp. (NASDAQ:AXAS). Abraxas Petroleum Corp. (NASDAQ:AXAS) stock performance was 4.20% in last session and finished the day at $4.96. Traded volume was 2.51million shares in the last session and the average volume of the stock remained 1.37million shares. The beta of the stock remained 1.88. Abraxas Petroleum Corp. (NASDAQ:AXAS) insider ownership is 2.70%.

Goodrich Petroleum Corporation (NYSE:GDP) has drilled its second successful well targeting oil and gas in the Tuscaloosa Marine Shale, a reservoir that spans parts of central and southern Louisiana. Goodrich Petroleum Corporation (NYSE:GDP) dropped -0.33 percent to $24.26 Wednesday on volume of 1.82million shares. The intra-day range of the stock was $23.91 to $25.11. Goodrich Petroleum Corporation (NYSE:GDP) has a market capitalization of $1.07billion.

TD Securities raised its price target on shares of Advantage Oil & Gas Ltd (USA) (NYSE:AAV) from C$6.50 to C$7.00. They have a buy rating on that stock. Advantage Oil & Gas Ltd (USA) (NYSE:AAV)’s stock on Apr 16, 2014 reported a increase of 2.94% to the closing price of $5.61. Its fifty two weeks range is $3.39 -$5.67. The total market capitalization recorded $948.63million. The overall volume in the last trading session was 372,879.00million shares. In its share capital, AAV has 168.28million outstanding shares.

Investors certainly have to be happy with Phillips 66 Partners LP (NYSE:PSXP) and its short term performance. After all, the stock has jumped by 11.4% in the past 4 weeks, and it is also above its 20 Day Simple Moving Average as well. Phillips 66 Partners LP (NYSE:PSXP) have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. Plus, the stock actually has a Zacks Rank #2 (Buy), so the recent move higher for this spotlighted company may definitely continue over the next few weeks. On Wednesday, shares of Phillips 66 Partners LP (NYSE:PSXP) advanced 1.48% to close the day at $56.98. Company return on investment (ROI) is 42.70% and its monthly performance is recorded as 14.69%. Phillips 66 Partners LP (NYSE:PSXP) quarterly revenue growth is 58.15%.

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