The upcoming report from EOG Resources (EOG) is expected to reveal quarterly earnings of $2.20 per share, indicating a decline of 19.7% compared to the year-ago period. Analysts forecast revenues of $5.8 billion, representing an increase of 3.9% year over year.
Over the last 30 days, there has been a downward revision of 3.6% 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield 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.
The combined assessment of analysts suggests that 'Revenues- Crude Oil and Condensate' will likely reach $2.98 billion. The estimate indicates a change of -8.5% from the prior-year quarter.
Based on the collective assessment of analysts, 'Revenues- Natural Gas Liquids' should arrive at $586.81 million. The estimate indicates a change of +5.9% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- Natural gas' of $903.74 million. The estimate suggests a change of +82.9% year over year.
The consensus estimate for 'Revenues- Gathering, Processing and Marketing' stands at $1.32 billion. The estimate indicates a change of -1.8% from the prior-year quarter.
Analysts expect 'Crude Oil and Condensate Volumes per day - Total' to come in at 545.32 thousands of barrels of oil. The estimate compares to the year-ago value of 494.60 thousands of barrels of oil.
The consensus among analysts is that 'Natural Gas Volumes per day - Total' will reach . Compared to the present estimate, the company reported in the same quarter last year.
Analysts' assessment points toward 'Crude Oil Equivalent Volumes per day - Total' reaching 1,371.08 thousands of barrels of oil equivalent. Compared to the current estimate, the company reported 1,095.70 thousands of barrels of oil equivalent in the same quarter of the previous year.
Analysts forecast 'Natural Gas Liquids Volumes per day - Total' to reach 325.20 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 252.50 thousands of barrels of oil.
According to the collective judgment of analysts, 'Average Natural Gas Liquids Prices per bbl - Composite' should come in at $19.75 . The estimate compares to the year-ago value of $23.85 .
Analysts predict that the 'Average Crude Oil and Condensate Prices per bbl - Composite' will reach $59.51 . Compared to the present estimate, the company reported $71.66 in the same quarter last year.
The average prediction of analysts places 'Average Crude Oil and Condensate Prices per bbl - United States' at $59.51 . Compared to the present estimate, the company reported $71.68 in the same quarter last year.
It is projected by analysts that the 'Total Production' will reach 126 thousands of barrels of oil equivalent. The estimate compares to the year-ago value of 101 thousands of barrels of oil equivalent.
View all Key Company Metrics for EOG Resources here>>>
Shares of EOG Resources have experienced a change of +16.5% in the past month compared to the -0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), EOG is expected to underperform the overall market 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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