S&P 500 (NYSE:SPY) component EOG Resources, Inc. (NYSE:EOG) will unveil its latest earnings on Friday, August 5, 2011. EOG Resources, Inc. develops and produces natural gas and crude oil primarily in the United States, Canada, the Republic of Trinidad, Tobago and the United Kingdom.
EOG Resources, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 80 cents per share, a rise of more than fourfold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 82 cents. Between one and three months ago, the average estimate moved down, but has risen from 78 cents during the last month. For the year, analysts are projecting net income of $3.67 per share, a rise of more than threefold from last year.
Past Earnings Performance: The company is looking to beat analyst estimates for the third quarter in a row. Last quarter, it beat estimates with profit of 68 cents per share against the mean estimate of 54 cents. In the prior quarter, the company reported net income of 36 cents.
Wall St. Revenue Expectations: On average, analysts predict $2.01 billion in revenue this quarter, a rise of 47.8% from the year ago quarter. Analysts are forecasting total revenue of $8.46 billion for the year, a rise of 38.7% from last year’s revenue of $6.1 billion.
Analyst Ratings: Analysts seem relatively indifferent about EOG Resources with 14 of 24 analysts surveyed maintaining a hold rating.
Revenue has risen the past four quarters. Revenue increased 38.4% to $1.9 billion in first quarter. The figure rose 1.6% in the fourth quarter of the last fiscal year from the year earlier, climbed 57.1% in the third quarter of the last fiscal year from the year-ago quarter and 57.7% in the second quarter of the last fiscal year.
Competitors to Watch: Apache Corporation (NYSE:APA), Chesapeake Energy Corp. (NYSE:CHK), Anadarko Petroleum Corp. (NYSE:APC), Lucas Energy, Inc. (AMEX:LEI), EnCana Corporation (NYSE:ECA), Forest Oil Corporation (NYSE:FST), Noble Energy, Inc. (NYSE:NBL), Newfield Exploration Co. (NYSE:NFX), PrimeEnergy Corporation (NASDAQ:PNRG), and GeoMet, Inc. (NASDAQ:GMET).
Stock Price Performance: During June 3, 2011 to August 1, 2011, the stock price had fallen $8.76 (-7.9%) from $110.38 to $101.62. The stock price saw one of its best stretches over the last year between March 18, 2011 and March 29, 2011 when shares rose for eight-straight days, rising 10.9% (+$11.70) over that span. It saw one of its worst periods between March 29, 2011 and April 7, 2011 when shares fell for eight-straight days, falling 4.2% (-$4.99) over that span. Shares are up $10.64 (+11.7%) year to date.
(Source: Xignite Financials)