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Could EOG Resources Beat Its 2Q16 Earnings Expectations?

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Jul. 28 2016, Published 2:30 p.m. ET

EOG Resources’ earnings trend

In 1Q16, excluding one-time items, EOG Resources reported EPS (earnings per share) of $0.83, $0.01 better than the consensus EPS $0.84. Its revenues fell ~48% year-over-year to ~$1.4 billion.

As shown in the above chart, EOG Resources reported much lower earnings in 2015 due to lower realized crude oil (USO) (UWTI) (DWTI) and natural gas (UNG) (BOIL) prices. In 4Q15, EOG Resources saw its adjusted earnings turn negative for the first time since 2009. Since 2013, EOG Resources has beaten earnings expectations ~92% of the time.

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Other upstream players

Since 2013, upstream players Devon Energy (DVN), Pioneer Natural Resources (PXD), and Range Resources (RRC) have beaten earnings expectations ~77%, ~75%, and ~54% of the times, respectively.

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