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Oil Exploration Earnings to Watch on Jul 27: MUR, PXD & More
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The ongoing Q2 earnings season has not yet seen many releases from the oil exploration space. The second quarter brought back hopes for oil that fell to its 12-year low of $26.21 in February. Subsequently, supply outages round the globe pushed the price of the commodity by almost 90%, taking it past the $50-per-barrel mark.
While only a handful of companies from the energy sector have reported second-quarter numbers so far, we wait to see how the price rise influenced the performance of big players, when they come up with their results in the upcoming days.
The prevailing trend in the oil and energy sector is well outlined in the Earnings Trends report. As of Thursday, Jul 21, 8.1% of the oil and energy companies had reported Q2 earnings results. These stocks account for 6.9% of the total market capitalization. Total earnings for these index members plunged 64.0% from the year-ago period on a 26.6% decline in revenues.
Definitely, the scenario was unfavorable for the upstream energy players that include oil and gas exploration and production companies, and drilling and oilfield services players. This is because oil price has a positive correlation with the operations of these companies.
Given that the weakness in commodity prices still persists, investors are eager to find out how oil and natural gas stocks will fare this earnings season. The current week is going to be an eventful one with regards to earnings as over 950 companies will be releasing their quarterly numbers, including 189 S&P 500 members.
Let’s take a look at the expected earnings performance of five upstream companies that are scheduled to post second-quarter earnings results on Jul 27.
Halcon Resources Corp. has an Earnings ESP of +28.57% and a Zacks Rank #2 (Buy), which increases the predictive power of ESP.
Last quarter, the company had reported earnings of 21 cents per share, crushing the Zacks Consensus Estimate of a loss of a penny. This resulted in a positive earnings surprise of 2,200.00%. Moreover, the company outpaced the Zacks Consensus Estimate in each of the last four quarters.
Murphy Oil Corporation (MUR - Free Report) has an Earnings ESP of 0.00% and a Zacks Rank #2. Though a favorable Zacks Rank increases the predictive power of ESP, an ESP of 0.00% makes surprise prediction difficult.
Last quarter, the company posted a positive earnings surprise of 24.14%. Moreover, the company outpaced the Zacks Consensus Estimate in each of the last four quarters. We’ll have to wait and see whether the company can pull a surprise this time around. (Read more: Is a Beat Ahead for Murphy Oil this Earnings Season?)
Pioneer Natural Resources (PXD - Free Report) has an Earnings ESP of 19.44% and a Zacks Rank #2, which increases the predictive power of ESP.
Last quarter, the company had reported loss of 64 cents per share, narrower than the Zacks Consensus Estimate of 73 cents loss. This resulted in a positive earnings surprise of 12.33%. Moreover, the company outpaced the Zacks Consensus Estimate in each of the last four quarters. (Read more: Pioneer Natural: What Awaits this Earnings Season?)
QEP Resources Inc. has an Earnings ESP of 0.00% and a Zacks Rank #2. Though a favorable Zacks Rank increases the predictive power of ESP, an ESP of 0.00% makes surprise prediction difficult.
Last quarter, the company posted a positive earnings surprise of 10.17%. Moreover, the company outpaced the Zacks Consensus Estimate in each of the trailing four quarters.
Whiting Petroleum Corp. has an Earnings ESP of 0.00% and a Zacks Rank #2. In spite of the favorable Zacks Rank, we cannot conclusively say that the company will beat on earnings because of a 0.00% ESP.
Last quarter, the company had reported a loss of 85 cents per share, wider than the Zacks Consensus Estimate of 71 cents loss. The company has a mixed history with regard to earnings surprises, outpacing the Zacks Consensus Estimate in two of the last four quarters.
Don’t miss out on our full earnings release articles for these oil exploration stocks, as the actual results might hold some surprises!
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Oil Exploration Earnings to Watch on Jul 27: MUR, PXD & More
The ongoing Q2 earnings season has not yet seen many releases from the oil exploration space. The second quarter brought back hopes for oil that fell to its 12-year low of $26.21 in February. Subsequently, supply outages round the globe pushed the price of the commodity by almost 90%, taking it past the $50-per-barrel mark.
While only a handful of companies from the energy sector have reported second-quarter numbers so far, we wait to see how the price rise influenced the performance of big players, when they come up with their results in the upcoming days.
The prevailing trend in the oil and energy sector is well outlined in the Earnings Trends report. As of Thursday, Jul 21, 8.1% of the oil and energy companies had reported Q2 earnings results. These stocks account for 6.9% of the total market capitalization. Total earnings for these index members plunged 64.0% from the year-ago period on a 26.6% decline in revenues.
Definitely, the scenario was unfavorable for the upstream energy players that include oil and gas exploration and production companies, and drilling and oilfield services players. This is because oil price has a positive correlation with the operations of these companies.
Given that the weakness in commodity prices still persists, investors are eager to find out how oil and natural gas stocks will fare this earnings season. The current week is going to be an eventful one with regards to earnings as over 950 companies will be releasing their quarterly numbers, including 189 S&P 500 members.
Let’s take a look at the expected earnings performance of five upstream companies that are scheduled to post second-quarter earnings results on Jul 27.
Halcon Resources Corp. has an Earnings ESP of +28.57% and a Zacks Rank #2 (Buy), which increases the predictive power of ESP.
Last quarter, the company had reported earnings of 21 cents per share, crushing the Zacks Consensus Estimate of a loss of a penny. This resulted in a positive earnings surprise of 2,200.00%. Moreover, the company outpaced the Zacks Consensus Estimate in each of the last four quarters.
HALCON RESOURCS Price and EPS Surprise
HALCON RESOURCS Price and EPS Surprise | HALCON RESOURCS Quote
Murphy Oil Corporation (MUR - Free Report) has an Earnings ESP of 0.00% and a Zacks Rank #2. Though a favorable Zacks Rank increases the predictive power of ESP, an ESP of 0.00% makes surprise prediction difficult.
Last quarter, the company posted a positive earnings surprise of 24.14%. Moreover, the company outpaced the Zacks Consensus Estimate in each of the last four quarters. We’ll have to wait and see whether the company can pull a surprise this time around. (Read more: Is a Beat Ahead for Murphy Oil this Earnings Season?)
MURPHY OIL Price and EPS Surprise
MURPHY OIL Price and EPS Surprise | MURPHY OIL Quote
Pioneer Natural Resources (PXD - Free Report) has an Earnings ESP of 19.44% and a Zacks Rank #2, which increases the predictive power of ESP.
Last quarter, the company had reported loss of 64 cents per share, narrower than the Zacks Consensus Estimate of 73 cents loss. This resulted in a positive earnings surprise of 12.33%. Moreover, the company outpaced the Zacks Consensus Estimate in each of the last four quarters. (Read more: Pioneer Natural: What Awaits this Earnings Season?)
PIONEER NAT RES Price and EPS Surprise
PIONEER NAT RES Price and EPS Surprise | PIONEER NAT RES Quote
QEP Resources Inc. has an Earnings ESP of 0.00% and a Zacks Rank #2. Though a favorable Zacks Rank increases the predictive power of ESP, an ESP of 0.00% makes surprise prediction difficult.
Last quarter, the company posted a positive earnings surprise of 10.17%. Moreover, the company outpaced the Zacks Consensus Estimate in each of the trailing four quarters.
QEP RESOURCES Price and EPS Surprise
QEP RESOURCES Price and EPS Surprise | QEP RESOURCES Quote
Whiting Petroleum Corp. has an Earnings ESP of 0.00% and a Zacks Rank #2. In spite of the favorable Zacks Rank, we cannot conclusively say that the company will beat on earnings because of a 0.00% ESP.
Last quarter, the company had reported a loss of 85 cents per share, wider than the Zacks Consensus Estimate of 71 cents loss. The company has a mixed history with regard to earnings surprises, outpacing the Zacks Consensus Estimate in two of the last four quarters.
WHITING PETROLM Price and EPS Surprise
WHITING PETROLM Price and EPS Surprise | WHITING PETROLM Quote
Don’t miss out on our full earnings release articles for these oil exploration stocks, as the actual results might hold some surprises!
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 >>