Wall Street analysts expect EOG Resources (EOG) to post quarterly earnings of $5.10 per share in its upcoming report, which indicates a year-over-year increase of 119.8%. Revenues are expected to be $7.95 billion, up 45.2% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 6.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some EOG Resources metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Revenues- Natural gas' should come in at $801.81 million. The estimate indicates a change of +33.6% from the prior-year quarter.
The consensus among analysts is that 'Revenues- Crude Oil and Condensate' will reach $4.99 billion. The estimate points to a change of +67.7% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenues- Natural Gas Liquids' should arrive at $817.88 million. The estimate indicates a change of +53.2% from the prior-year quarter.
Analysts expect 'Revenues- Gathering, Processing and Marketing' to come in at $1.32 billion. The estimate suggests a change of +6.2% year over year.
The combined assessment of analysts suggests that 'Crude Oil and Condensate Volumes per day - Total' will likely reach 549.47 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 504.20 thousands of barrels of oil.
The consensus estimate for 'Natural Gas Volumes per day - Total' stands at . The estimate is in contrast to the year-ago figure of .
Analysts forecast 'Crude Oil Equivalent Volumes per day - Total' to reach 1,396.82 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 1,134.10 thousands of barrels of oil equivalent.
Analysts' assessment points toward 'Natural Gas Liquids Volumes per day - Total' reaching 337.91 thousands of barrels of oil. Compared to the present estimate, the company reported 258.40 thousands of barrels of oil in the same quarter last year.
It is projected by analysts that the 'Average Natural Gas Liquids Prices per bbl - Composite' will reach $26.79 . Compared to the present estimate, the company reported $22.70 in the same quarter last year.
Analysts predict that the 'Average Crude Oil and Condensate Prices per bbl - Composite' will reach $101.32 . Compared to the present estimate, the company reported $64.82 in the same quarter last year.
The average prediction of analysts places 'Average Crude Oil and Condensate Prices per bbl - United States' at $99.80 . Compared to the current estimate, the company reported $64.84 in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Total Production' of 127 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 103 thousands of barrels of oil equivalent.
View all Key Company Metrics for EOG Resources here>>>Shares of EOG Resources have experienced a change of +13.5% in the past month compared to the -1.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), EOG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
EOG Resources, Inc. (EOG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).