We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Oil Stocks to Watch for Q2 Earnings on Aug 8: XEC, LNG & More
Read MoreHide Full Article
The Q2 earnings season has long crossed the half way mark, with results from 420 S&P 500 members that account for 86.7% of the index’s total market capitalization. It is to be noted that as many as 35 S&P 500 members are set to release their quarterly results this week.
The Picture So Far
As per the latest Earnings Preview, total earnings for these companies rose 11.6% from the same period last year on 5.6% higher revenues, with 74.3% beating earnings and 68.3% trumping revenue estimates.
Energy Outshines Other Sectors
We have divided the S&P 500 Index into 16 Zacks Sectors. As per our report, among all the sectors, Oil/Energy has witnessed the highest year-over-year earnings growth. So far, 93.5% of Oil/Energy companies have reported with a combined picture of 313.3% earnings growth. The other sectors significantly lag Oil/Energy.
Healthy Oil & Gas Performance in Q2
The oil and gas pricing scenario in second-quarter 2017 was substantially better than the year-ago period.
Hopes of OPEC’s production cut deal extension was the prime factor driving the year-over-year hike in prices during April and almost the entire of May. Market anticipations proved somewhat correct as OPEC and 11 non-OPEC players, including Russia, decided to extend the production cut deal until Mar 2018 in the Vienna meeting.
Natural gas also made a modest recovery in Q2 after the commodity hit its lowest annual average price in 2016 in almost 20 years.
Energy Explorers & Downstream Players to Watch for Earnings
Let’s see what’s in store for five such companies expected to come up with second-quarter numbers on Aug 8. Let’s take a look at how things are shaping up at their end.
Upstream player Cimarex Energy Co. is scheduled to report results after the closing bell. In the first quarter of 2017, this Denver, Colorado-based company delivered a positive earnings surprise of 23.53%.
Our proven model does not conclusively show an earnings beat for Cimarex this quarter. That is because the stock has a Zacks Rank #3 (Hold) and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 to beat on earnings.
Based in Houston, TX Cheniere Energy Inc. (LNG - Free Report) is primarily engaged in businesses related to liquefied natural gas (or LNG) through its two business segments: LNG terminal; and LNG and natural gas marketing.
The company is scheduled to report results before the opening bell. Last quarter, the company reported an earnings surprise of 162.16%.
An independent energy exploration company, Continental Resources Inc. , is expected to report results after the closing bell.
Last quarter, this Oklahoma City, OK-based upstream player saw an earnings miss of 33.33%.
An earnings beat looks unlikely for Continental Resources. For the quarter to be reported, the company has an Earnings ESP of 0.00%, while it carries a Zacks Rank #3.
Continental Resources, Inc. Price and EPS Surprise
Energen Corporation , a leading exploration player with extensive operations in the Permian Basin, will likely report results before the opening bell.
In the prior quarter, the upstream company posted an earnings miss of 8.33%. An earnings beat is uncertain for Energen this time around as well as it has an Earnings ESP of 0.00% and a Zacks Rank #3.
Headquartered in San Antonio, TX,refining player Andeavor is expected to report earnings results after the closing bell.
Last quarter, the company recorded an earnings beat of 44.44%. An earnings beat looks unlikely for Andeavor. For the quarter to be reported, the company has an Earnings ESP of 0.00%, while it carries a Zacks Rank #3.
5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure.
Image: Bigstock
Oil Stocks to Watch for Q2 Earnings on Aug 8: XEC, LNG & More
The Q2 earnings season has long crossed the half way mark, with results from 420 S&P 500 members that account for 86.7% of the index’s total market capitalization. It is to be noted that as many as 35 S&P 500 members are set to release their quarterly results this week.
The Picture So Far
As per the latest Earnings Preview, total earnings for these companies rose 11.6% from the same period last year on 5.6% higher revenues, with 74.3% beating earnings and 68.3% trumping revenue estimates.
Energy Outshines Other Sectors
We have divided the S&P 500 Index into 16 Zacks Sectors. As per our report, among all the sectors, Oil/Energy has witnessed the highest year-over-year earnings growth. So far, 93.5% of Oil/Energy companies have reported with a combined picture of 313.3% earnings growth. The other sectors significantly lag Oil/Energy.
Healthy Oil & Gas Performance in Q2
The oil and gas pricing scenario in second-quarter 2017 was substantially better than the year-ago period.
Hopes of OPEC’s production cut deal extension was the prime factor driving the year-over-year hike in prices during April and almost the entire of May. Market anticipations proved somewhat correct as OPEC and 11 non-OPEC players, including Russia, decided to extend the production cut deal until Mar 2018 in the Vienna meeting.
Natural gas also made a modest recovery in Q2 after the commodity hit its lowest annual average price in 2016 in almost 20 years.
Energy Explorers & Downstream Players to Watch for Earnings
Let’s see what’s in store for five such companies expected to come up with second-quarter numbers on Aug 8. Let’s take a look at how things are shaping up at their end.
Upstream player Cimarex Energy Co. is scheduled to report results after the closing bell. In the first quarter of 2017, this Denver, Colorado-based company delivered a positive earnings surprise of 23.53%.
Our proven model does not conclusively show an earnings beat for Cimarex this quarter. That is because the stock has a Zacks Rank #3 (Hold) and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 to beat on earnings.
Cimarex Energy Co Price and EPS Surprise
Cimarex Energy Co Price and EPS Surprise | Cimarex Energy Co Quote
Based in Houston, TX Cheniere Energy Inc. (LNG - Free Report) is primarily engaged in businesses related to liquefied natural gas (or LNG) through its two business segments: LNG terminal; and LNG and natural gas marketing.
The company is scheduled to report results before the opening bell. Last quarter, the company reported an earnings surprise of 162.16%.
An earnings beat is certain for Cheniere Energy this time as it has an Earnings ESP of +2,200.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cheniere Energy, Inc. Price and EPS Surprise
Cheniere Energy, Inc. Price and EPS Surprise | Cheniere Energy, Inc. Quote
An independent energy exploration company, Continental Resources Inc. , is expected to report results after the closing bell.
Last quarter, this Oklahoma City, OK-based upstream player saw an earnings miss of 33.33%.
An earnings beat looks unlikely for Continental Resources. For the quarter to be reported, the company has an Earnings ESP of 0.00%, while it carries a Zacks Rank #3.
Continental Resources, Inc. Price and EPS Surprise
Continental Resources, Inc. Price and EPS Surprise | Continental Resources, Inc. Quote
Energen Corporation , a leading exploration player with extensive operations in the Permian Basin, will likely report results before the opening bell.
In the prior quarter, the upstream company posted an earnings miss of 8.33%. An earnings beat is uncertain for Energen this time around as well as it has an Earnings ESP of 0.00% and a Zacks Rank #3.
Energen Corporation Price and EPS Surprise
Energen Corporation Price and EPS Surprise | Energen Corporation Quote
Headquartered in San Antonio, TX,refining player Andeavor is expected to report earnings results after the closing bell.
Last quarter, the company recorded an earnings beat of 44.44%. An earnings beat looks unlikely for Andeavor. For the quarter to be reported, the company has an Earnings ESP of 0.00%, while it carries a Zacks Rank #3.
Tesoro Corporation Price and EPS Surprise
Tesoro Corporation Price and EPS Surprise | Tesoro Corporation Quote
5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure.
See these buy recommendations now >>