Rubis shares hit a near three-month high after the French oil services company reported a rise in first-half earnings and raised its guidance on a key metric for the year.

Shares were up 1.54 euros, or 4.55%, at 35.40 euros in late morning European trading, a level not seen since June 15. They are currently up 10% over the year to date.

Rubis--which produces renewable electricity--said Tuesday that earnings before interest, taxes, depreciation and amortization for the half year ended June 30 were 434 million euros ($504.4 million), compared with 369 million euros.

The board now forecasts Ebitda for the year to be between 775 million euros and 825 million euros from 740 million euros to 790 million euros previously.

"Rubis delivered a strong first-half performance in a volatile and high oil price environment, driven by solid activity levels, disciplined execution and active commercial management," Managing Partners Clarisse Gobin-Swiecznik, Jean-Christian Bergeron and Marc Jacquot said.

Bernstein analysts described the profit upgrade as a positive surprise and said second-half activity isn't likely to soften as much as they had previously feared.