We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Evolution (EPM) Gears Up for Q1 Earnings: What's in Store?
Read MoreHide Full Article
Evolution Petroleum Corporation (EPM - Free Report) is set to report first-quarter fiscal 2024 results on Nov 7, after the closing bell.
Evolution Petroleum beat earnings estimates in two of the prior four quarters, missed on two occasions, delivering an average surprise of 11.6%. This is depicted in the graph below:
Evolution Petroleum Corporation, Inc. Price and EPS Surprise
The Zacks Consensus Estimate for fiscal first-quarter earnings witnessed one upward revision in the past 30 days. It is currently pegged at 8 cents per share.
The consensus mark for revenues stands at $21.6 million, implying a year-over-year decrease of 45.7%.
Factors to Consider
The pricing scenario of oil and natural gas was impressive in the September quarter of this year. Per data provided by the U.S. Energy Information Administration, the average West Texas Intermediate crude prices per barrel in July, August and September were $76.07, $81.39 and $89.43, respectively. Although the prices were not as high as in the year-ago quarter, the commodity prices were impressive and healthy.
Like oil, natural gas prices in the September quarter were healthier than in the fiscal fourth quarter of 2023. Thus, a favorable energy business environment is likely to have aided the exploration and production activities of EPM. However, production of the commodities is expected to have decreased, offsetting the positives.
Earnings Whisper
Our proven model does not predict an earnings beat for Evolution Petroleum this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. But that is not the case here.
Earnings ESP: Evolution Petroleum has an Earnings ESP of -25.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: EPM currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some firms worth considering, as these have the right combination of elements to beat on earnings in the upcoming quarterly reports:
The company is scheduled to release third-quarter earnings on Nov 7. The Zacks Consensus Estimate for EC’s earnings is pegged at 53 cents per share, suggesting a decline of 50% from the prior-year reported figure.
Devon Energy Corp. (DVN - Free Report) has an Earnings ESP of +0.72% and is currently a Zacks #2 Ranked player.
The company is scheduled to release third-quarter results on Nov 7. The Zacks Consensus Estimate for DVN’s earnings is pegged at $1.55 per share.
TC Energy Corporation (TRP - Free Report) has an Earnings ESP of +0.37% and is a Zacks #3 Ranked player at present.
TC Energy is scheduled to release third-quarter results on Nov 8. The Zacks Consensus Estimate for TRP’s earnings is pegged at 71 cents per share, suggesting a year-over-year decline.
Image: Shutterstock
Evolution (EPM) Gears Up for Q1 Earnings: What's in Store?
Evolution Petroleum Corporation (EPM - Free Report) is set to report first-quarter fiscal 2024 results on Nov 7, after the closing bell.
Evolution Petroleum beat earnings estimates in two of the prior four quarters, missed on two occasions, delivering an average surprise of 11.6%. This is depicted in the graph below:
Evolution Petroleum Corporation, Inc. Price and EPS Surprise
Evolution Petroleum Corporation, Inc. price-eps-surprise | Evolution Petroleum Corporation, Inc. Quote
Estimate Trend
The Zacks Consensus Estimate for fiscal first-quarter earnings witnessed one upward revision in the past 30 days. It is currently pegged at 8 cents per share.
The consensus mark for revenues stands at $21.6 million, implying a year-over-year decrease of 45.7%.
Factors to Consider
The pricing scenario of oil and natural gas was impressive in the September quarter of this year. Per data provided by the U.S. Energy Information Administration, the average West Texas Intermediate crude prices per barrel in July, August and September were $76.07, $81.39 and $89.43, respectively. Although the prices were not as high as in the year-ago quarter, the commodity prices were impressive and healthy.
Like oil, natural gas prices in the September quarter were healthier than in the fiscal fourth quarter of 2023. Thus, a favorable energy business environment is likely to have aided the exploration and production activities of EPM. However, production of the commodities is expected to have decreased, offsetting the positives.
Earnings Whisper
Our proven model does not predict an earnings beat for Evolution Petroleum this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. But that is not the case here.
Earnings ESP: Evolution Petroleum has an Earnings ESP of -25.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: EPM currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some firms worth considering, as these have the right combination of elements to beat on earnings in the upcoming quarterly reports:
Ecopetrol SA (EC - Free Report) currently has an Earnings ESP of +22.81% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release third-quarter earnings on Nov 7. The Zacks Consensus Estimate for EC’s earnings is pegged at 53 cents per share, suggesting a decline of 50% from the prior-year reported figure.
Devon Energy Corp. (DVN - Free Report) has an Earnings ESP of +0.72% and is currently a Zacks #2 Ranked player.
The company is scheduled to release third-quarter results on Nov 7. The Zacks Consensus Estimate for DVN’s earnings is pegged at $1.55 per share.
TC Energy Corporation (TRP - Free Report) has an Earnings ESP of +0.37% and is a Zacks #3 Ranked player at present.
TC Energy is scheduled to release third-quarter results on Nov 8. The Zacks Consensus Estimate for TRP’s earnings is pegged at 71 cents per share, suggesting a year-over-year decline.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.