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.
EOG Resources Gears Up to Report Q3 Earnings: What's in the Cards?
Read MoreHide Full Article
Key Takeaways
EOG Resources is set to report Q3 earnings on Nov. 5, with EPS expected to jump 64.2% year over year.
EOG's Q3 revenues are projected to rise 28.9% to $7.54 billion, supported by higher crude oil prices.
EOG's daily oil equivalent production is expected to grow 8%, while its Earnings ESP stands at 0.79%.
EOG Resources, Inc. (EOG - Free Report) is set to report third-quarter 2026 results on Nov. 5, after the closing bell.
In the last reported quarter, its earnings of $5.07 per share beat the Zacks Consensus Estimate of $5.01, driven by higher oil prices and increased production volumes.
The upstream player’s earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 6.74%. This is depicted in the graph below:
The Zacks Consensus Estimate for third-quarter earnings per share (EPS) of $4.45 has been revised upward over the past 30 days. The estimated figure indicates a 64.2% improvement from the prior-year reported number.
The Zacks Consensus Estimate for revenues of $7.54 billion implies a 28.9% increase from the year-ago recorded figure.
Factors to Consider for EOG
EOG Resources’ upstream production is supported by highly productive acreages in premier oil shale plays like the Delaware Basin, Eagle Ford and Utica play. The company boasts numerous untapped high-quality drilling sites with low production costs, which strengthen its production outlook and support a lower risk profile.
The company’s upstream business is expected to have benefited significantly from high crude prices in the third quarter, driven by the Middle East crisis. Per data from the U.S. Energy Information Administration, the West Texas Intermediate spot crude price averaged $80.46 per barrel in July and $83.90 per barrel in August, further increasing to $97.31 per barrel in September. Notably, these figures are significantly higher than those recorded in the corresponding period of 2025.
The constructive commodity pricing environment in the third quarter is expected to have aided EOG’s earnings and cash flows. The company’s low-cost operations also support its profitability across commodity cycles. Our model predicts a year-over-year improvement of 8% for the company’s daily total crude oil equivalent volumes in the third quarter.
Earnings Whispers
Our proven model indicates an earnings beat for EOG 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. That isn’t the case here, as you will see below.
Earnings ESP: EOG has an Earnings ESP of +0.79%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: EOG currently carries a Zacks Rank #2.
Other Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Devon Energy Corporation (DVN - Free Report) is an independent exploration and production company with its operations focused in the Permian Basin, Rockies, Eagle Ford, Anadarko Basin and Marcellus shale in the United States. It currently has an Earnings ESP of +9.36% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Devon Energy is scheduled to release third-quarter 2026 earnings on Nov. 5. The Zacks Consensus Estimate for DVN’s earnings is pegged at $1.24 per share, indicating a 19.2% increase from the prior-year reported figure.
Targa Resources Corporation (TRGP - Free Report) is a leading provider of midstream services in North America and mostly derives its revenues from gathering, compressing, treating, processing and selling natural gas. It currently has an Earnings ESP of +2.05% and a Zacks Rank #2.
Targa Resources is scheduled to release third-quarter 2026 earnings on Nov. 5. The Zacks Consensus Estimate for TRGP’s earnings is pegged at $2.74 per share, indicating a 24.6% increase from the prior-year reported figure.
Occidental Petroleum (OXY - Free Report) currently has an Earnings ESP of +4.14% and a Zacks Rank #2. OXY is scheduled to release third-quarter earnings on Nov. 9.
Occidental is scheduled to release third-quarter 2026 earnings on Nov. 9. The Zacks Consensus Estimate for OXY’s earnings is pegged at $1.43 per share, indicating a 123.4% increase from the prior-year reported figure.
View the Zacks #1 Rank List
Image: Bigstock
EOG Resources Gears Up to Report Q3 Earnings: What's in the Cards?
Key Takeaways
EOG Resources, Inc. (EOG - Free Report) is set to report third-quarter 2026 results on Nov. 5, after the closing bell.
In the last reported quarter, its earnings of $5.07 per share beat the Zacks Consensus Estimate of $5.01, driven by higher oil prices and increased production volumes.
The upstream player’s earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 6.74%. This is depicted in the graph below:
EOG Resources, Inc. Price and EPS Surprise
EOG Resources, Inc. price-eps-surprise | EOG Resources, Inc. Quote
Estimate Trend for EOG
The Zacks Consensus Estimate for third-quarter earnings per share (EPS) of $4.45 has been revised upward over the past 30 days. The estimated figure indicates a 64.2% improvement from the prior-year reported number.
The Zacks Consensus Estimate for revenues of $7.54 billion implies a 28.9% increase from the year-ago recorded figure.
Factors to Consider for EOG
EOG Resources’ upstream production is supported by highly productive acreages in premier oil shale plays like the Delaware Basin, Eagle Ford and Utica play. The company boasts numerous untapped high-quality drilling sites with low production costs, which strengthen its production outlook and support a lower risk profile.
The company’s upstream business is expected to have benefited significantly from high crude prices in the third quarter, driven by the Middle East crisis. Per data from the U.S. Energy Information Administration, the West Texas Intermediate spot crude price averaged $80.46 per barrel in July and $83.90 per barrel in August, further increasing to $97.31 per barrel in September. Notably, these figures are significantly higher than those recorded in the corresponding period of 2025.
The constructive commodity pricing environment in the third quarter is expected to have aided EOG’s earnings and cash flows. The company’s low-cost operations also support its profitability across commodity cycles. Our model predicts a year-over-year improvement of 8% for the company’s daily total crude oil equivalent volumes in the third quarter.
Earnings Whispers
Our proven model indicates an earnings beat for EOG 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. That isn’t the case here, as you will see below.
Earnings ESP: EOG has an Earnings ESP of +0.79%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: EOG currently carries a Zacks Rank #2.
Other Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Devon Energy Corporation (DVN - Free Report) is an independent exploration and production company with its operations focused in the Permian Basin, Rockies, Eagle Ford, Anadarko Basin and Marcellus shale in the United States. It currently has an Earnings ESP of +9.36% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Devon Energy is scheduled to release third-quarter 2026 earnings on Nov. 5. The Zacks Consensus Estimate for DVN’s earnings is pegged at $1.24 per share, indicating a 19.2% increase from the prior-year reported figure.
Targa Resources Corporation (TRGP - Free Report) is a leading provider of midstream services in North America and mostly derives its revenues from gathering, compressing, treating, processing and selling natural gas. It currently has an Earnings ESP of +2.05% and a Zacks Rank #2.
Targa Resources is scheduled to release third-quarter 2026 earnings on Nov. 5. The Zacks Consensus Estimate for TRGP’s earnings is pegged at $2.74 per share, indicating a 24.6% increase from the prior-year reported figure.
Occidental Petroleum (OXY - Free Report) currently has an Earnings ESP of +4.14% and a Zacks Rank #2. OXY is scheduled to release third-quarter earnings on Nov. 9.
Occidental is scheduled to release third-quarter 2026 earnings on Nov. 9. The Zacks Consensus Estimate for OXY’s earnings is pegged at $1.43 per share, indicating a 123.4% increase from the prior-year reported figure.