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What Analyst Projections for Key Metrics Reveal About EOG Resources (EOG) Q1 Earnings
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Wall Street analysts forecast that EOG Resources (EOG - Free Report) will report quarterly earnings of $2.74 per share in its upcoming release, pointing to a year-over-year decline of 2.8%. It is anticipated that revenues will amount to $5.88 billion, exhibiting a decline of 4% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 10.6% 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 announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision 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.
In light of this perspective, let's dive into the average estimates of certain EOG Resources metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Revenues- Natural gas' stands at $669.21 million. The estimate indicates a change of +75.2% from the prior-year quarter.
Analysts predict that the 'Revenues- Crude Oil and Condensate' will reach $3.26 billion. The estimate suggests a change of -6.2% year over year.
It is projected by analysts that the 'Revenues- Natural Gas Liquids' will reach $527.24 million. The estimate suggests a change of +2.8% year over year.
Analysts' assessment points toward 'Revenues- Gathering, Processing and Marketing' reaching $1.37 billion. The estimate indicates a change of -6.3% from the prior-year quarter.
According to the collective judgment of analysts, 'Crude Oil Equivalent Volumes per day - Total' should come in at 1,084.04 millions of barrels of oil equivalent. Compared to the current estimate, the company reported 1028.8 millions of barrels of oil equivalent in the same quarter of the previous year.
The average prediction of analysts places 'Natural Gas Volumes per day - Total' at 2,052.84 millions of cubic feet. Compared to the current estimate, the company reported 1858 millions of cubic feet in the same quarter of the previous year.
The consensus among analysts is that 'Crude Oil and Condensate Volumes per day - Total' will reach 500.08 millions of barrels of oil. The estimate compares to the year-ago value of 487.4 millions of barrels of oil.
Analysts expect 'Natural Gas Liquids Volumes per day - Total' to come in at 242.22 millions of barrels of oil. Compared to the current estimate, the company reported 231.7 millions of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Average Crude Oil and Condensate Prices per bbl - United States' will likely reach $72.78. The estimate compares to the year-ago value of $78.46.
Based on the collective assessment of analysts, 'Total Production' should arrive at 97.80 MBOE. Compared to the present estimate, the company reported 93.6 MBOE in the same quarter last year.
The collective assessment of analysts points to an estimated 'Average Natural Gas Liquids Prices per bbl - Composite' of $24.82. Compared to the current estimate, the company reported $24.32 in the same quarter of the previous year.
Analysts forecast 'Crude Oil and Condensate Volumes per day - United States' to reach 498.43 millions of barrels of oil. Compared to the current estimate, the company reported 486.8 millions of barrels of oil in the same quarter of the previous year.
Shares of EOG Resources have experienced a change of -12.7% in the past month compared to the -0.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), EOG is expected to mirror 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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What Analyst Projections for Key Metrics Reveal About EOG Resources (EOG) Q1 Earnings
Wall Street analysts forecast that EOG Resources (EOG - Free Report) will report quarterly earnings of $2.74 per share in its upcoming release, pointing to a year-over-year decline of 2.8%. It is anticipated that revenues will amount to $5.88 billion, exhibiting a decline of 4% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 10.6% 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 announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision 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.
In light of this perspective, let's dive into the average estimates of certain EOG Resources metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Revenues- Natural gas' stands at $669.21 million. The estimate indicates a change of +75.2% from the prior-year quarter.
Analysts predict that the 'Revenues- Crude Oil and Condensate' will reach $3.26 billion. The estimate suggests a change of -6.2% year over year.
It is projected by analysts that the 'Revenues- Natural Gas Liquids' will reach $527.24 million. The estimate suggests a change of +2.8% year over year.
Analysts' assessment points toward 'Revenues- Gathering, Processing and Marketing' reaching $1.37 billion. The estimate indicates a change of -6.3% from the prior-year quarter.
According to the collective judgment of analysts, 'Crude Oil Equivalent Volumes per day - Total' should come in at 1,084.04 millions of barrels of oil equivalent. Compared to the current estimate, the company reported 1028.8 millions of barrels of oil equivalent in the same quarter of the previous year.
The average prediction of analysts places 'Natural Gas Volumes per day - Total' at 2,052.84 millions of cubic feet. Compared to the current estimate, the company reported 1858 millions of cubic feet in the same quarter of the previous year.
The consensus among analysts is that 'Crude Oil and Condensate Volumes per day - Total' will reach 500.08 millions of barrels of oil. The estimate compares to the year-ago value of 487.4 millions of barrels of oil.
Analysts expect 'Natural Gas Liquids Volumes per day - Total' to come in at 242.22 millions of barrels of oil. Compared to the current estimate, the company reported 231.7 millions of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Average Crude Oil and Condensate Prices per bbl - United States' will likely reach $72.78. The estimate compares to the year-ago value of $78.46.
Based on the collective assessment of analysts, 'Total Production' should arrive at 97.80 MBOE. Compared to the present estimate, the company reported 93.6 MBOE in the same quarter last year.
The collective assessment of analysts points to an estimated 'Average Natural Gas Liquids Prices per bbl - Composite' of $24.82. Compared to the current estimate, the company reported $24.32 in the same quarter of the previous year.
Analysts forecast 'Crude Oil and Condensate Volumes per day - United States' to reach 498.43 millions of barrels of oil. Compared to the current estimate, the company reported 486.8 millions of barrels of oil in the same quarter of the previous year.
View all Key Company Metrics for EOG Resources here>>>
Shares of EOG Resources have experienced a change of -12.7% in the past month compared to the -0.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), EOG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>