Wall Street analysts forecast that EOG Resources (EOG) will report quarterly earnings of $4.45 per share in its upcoming release, pointing to a year-over-year increase of 64.2%. It is anticipated that revenues will amount to $7.54 billion, exhibiting an increase of 28.9% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 12.8% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
With that in mind, let's delve into the average projections of some EOG Resources metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Revenues- Natural Gas' will reach $1.02 billion. The estimate indicates a change of +44.7% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- Crude Oil and Condensate' of $4.49 billion. The estimate points to a change of +38.6% from the year-ago quarter.
The consensus among analysts is that 'Revenues- Natural Gas Liquids' will reach $786.39 million. The estimate suggests a change of +30.2% year over year.
Analysts expect 'Revenues- Gathering, Processing and Marketing' to come in at $1.36 billion. The estimate indicates a change of +15.3% from the prior-year quarter.
Based on the collective assessment of analysts, 'Crude Oil and Condensate Volumes per day - Total' should arrive at 549.54 thousands of barrels of oil. Compared to the present estimate, the company reported 534.50 thousands of barrels of oil in the same quarter last year.
The average prediction of analysts places 'Natural Gas Liquids Volumes per day - Total' at 344.86 thousands of barrels of oil. Compared to the current estimate, the company reported 309.30 thousands of barrels of oil in the same quarter of the previous year.
Analysts' assessment points toward 'Crude Oil Equivalent Volumes per day - Total' reaching 1,414.31 thousands of barrels of oil equivalent. The estimate compares to the year-ago value of 1,301.20 thousands of barrels of oil equivalent.
The combined assessment of analysts suggests that 'Natural Gas Volumes per day - Total' will likely reach . The estimate is in contrast to the year-ago figure of .
Analysts forecast 'Average Crude Oil and Condensate Prices per bbl - Composite' to reach $87.15 . Compared to the current estimate, the company reported $65.95 in the same quarter of the previous year.
Analysts predict that the 'Average Natural Gas Liquids Prices per bbl - Composite' will reach $24.97 . Compared to the present estimate, the company reported $21.25 in the same quarter last year.
According to the collective judgment of analysts, 'Total Production' should come in at 130 thousands of barrels of oil equivalent. Compared to the present estimate, the company reported 120 thousands of barrels of oil equivalent in the same quarter last year.
The consensus estimate for 'Average Crude Oil and Condensate Prices per bbl - United States' stands at $87.83 . Compared to the present estimate, the company reported $65.97 in the same quarter last year.
View all Key Company Metrics for EOG Resources here>>>Shares of EOG Resources have demonstrated returns of +9.6% over the past month compared to the Zacks S&P 500 composite's -2.3% change. With a Zacks Rank #2 (Buy), EOG is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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EOG Resources, Inc. (EOG): Free Stock Analysis Report
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