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Ahead of EOG Resources (EOG) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics
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Analysts on Wall Street project that EOG Resources (EOG - Free Report) will announce quarterly earnings of $2.43 per share in its forthcoming report, representing a decline of 15.9% year over year. Revenues are projected to reach $5.95 billion, declining 0.3% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 3.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during 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.
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.
Analysts predict that the 'Revenues- Natural gas' will reach $710.51 million. The estimate indicates a year-over-year change of +91%.
Analysts' assessment points toward 'Revenues- Crude Oil and Condensate' reaching $3.24 billion. The estimate indicates a change of -7.1% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenues- Natural Gas Liquids' will likely reach $623.69 million. The estimate indicates a year-over-year change of +19%.
Analysts expect 'Revenues- Gathering, Processing and Marketing' to come in at $1.40 billion. The estimate indicates a year-over-year change of -5.2%.
The consensus among analysts is that 'Crude Oil and Condensate Volumes per day - Total' will reach 533.26 thousands of barrels of oil. The estimate compares to the year-ago value of 493.00 thousands of barrels of oil.
Based on the collective assessment of analysts, 'Natural Gas Volumes per day - Total' should arrive at . Compared to the present estimate, the company reported in the same quarter last year.
According to the collective judgment of analysts, 'Natural Gas Liquids Volumes per day - Total' should come in at 306.10 thousands of barrels of oil. Compared to the current estimate, the company reported 254.30 thousands of barrels of oil in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Crude Oil Equivalent Volumes per day - Total' of 1,296.55 thousands of barrels of oil equivalent. Compared to the present estimate, the company reported 1,075.70 thousands of barrels of oil equivalent in the same quarter last year.
The average prediction of analysts places 'Average Natural Gas Liquids Prices per bbl - Composite' at $22.14 . Compared to the current estimate, the company reported $22.42 in the same quarter of the previous year.
It is projected by analysts that the 'Total Production' will reach 119 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 99 thousands of barrels of oil equivalent.
Analysts forecast 'Average Crude Oil and Condensate Prices per bbl - United States' to reach $66.16 . The estimate compares to the year-ago value of $76.95 .
The consensus estimate for 'Average Crude Oil and Condensate Prices per bbl - Composite' stands at $66.15 . Compared to the present estimate, the company reported $76.92 in the same quarter last year.
Over the past month, shares of EOG Resources have returned -4.5% versus the Zacks S&P 500 composite's +2.4% change. Currently, EOG carries a Zacks Rank #3 (Hold), suggesting that its performance may align with 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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Ahead of EOG Resources (EOG) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Analysts on Wall Street project that EOG Resources (EOG - Free Report) will announce quarterly earnings of $2.43 per share in its forthcoming report, representing a decline of 15.9% year over year. Revenues are projected to reach $5.95 billion, declining 0.3% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 3.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during 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.
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.
Analysts predict that the 'Revenues- Natural gas' will reach $710.51 million. The estimate indicates a year-over-year change of +91%.
Analysts' assessment points toward 'Revenues- Crude Oil and Condensate' reaching $3.24 billion. The estimate indicates a change of -7.1% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenues- Natural Gas Liquids' will likely reach $623.69 million. The estimate indicates a year-over-year change of +19%.
Analysts expect 'Revenues- Gathering, Processing and Marketing' to come in at $1.40 billion. The estimate indicates a year-over-year change of -5.2%.
The consensus among analysts is that 'Crude Oil and Condensate Volumes per day - Total' will reach 533.26 thousands of barrels of oil. The estimate compares to the year-ago value of 493.00 thousands of barrels of oil.
Based on the collective assessment of analysts, 'Natural Gas Volumes per day - Total' should arrive at . Compared to the present estimate, the company reported in the same quarter last year.
According to the collective judgment of analysts, 'Natural Gas Liquids Volumes per day - Total' should come in at 306.10 thousands of barrels of oil. Compared to the current estimate, the company reported 254.30 thousands of barrels of oil in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Crude Oil Equivalent Volumes per day - Total' of 1,296.55 thousands of barrels of oil equivalent. Compared to the present estimate, the company reported 1,075.70 thousands of barrels of oil equivalent in the same quarter last year.
The average prediction of analysts places 'Average Natural Gas Liquids Prices per bbl - Composite' at $22.14 . Compared to the current estimate, the company reported $22.42 in the same quarter of the previous year.
It is projected by analysts that the 'Total Production' will reach 119 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 99 thousands of barrels of oil equivalent.
Analysts forecast 'Average Crude Oil and Condensate Prices per bbl - United States' to reach $66.16 . The estimate compares to the year-ago value of $76.95 .
The consensus estimate for 'Average Crude Oil and Condensate Prices per bbl - Composite' stands at $66.15 . Compared to the present estimate, the company reported $76.92 in the same quarter last year.
View all Key Company Metrics for EOG Resources here>>>Over the past month, shares of EOG Resources have returned -4.5% versus the Zacks S&P 500 composite's +2.4% change. Currently, EOG carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .