Which Energy Players Will Make the Most?
The fate of upstream energy firms is largely dependent on oil prices. With increased exploration and production activities, a higher number of rigs will likely get hired and oil field services players are expected to clinch more contracts for setting up oil wells.
In fact, the market has seen a ramp up of crude drilling activities in the January-to-March quarter of 2018. As per data provided by Baker Hughes, a GE company BHGE – oilfield service provider – the total number of rigs exploring oil fields in the United States rose from 747 to 797 in the aforesaid quarter.
Choosing stocks with earnings beat potential might be a difficult task unless one knows the way to shortlist. One way to do this is to pick stocks that have the combination of a favorable Zacks Rank — #1 (Strong Buy), 2 (Buy) or 3 (Hold) — and a positive Earnings ESP.
Earnings ESP is our proprietary methodology for identifying stocks that have high chances of surprising in their upcoming earnings announcements. It shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as high as 70%.
Headquartered in Houston, TX, EOG Resources, Inc. EOG is a leading explorer with oil and gas reserves across the United States, the U.K., China and Trinidad.
The company, expected to report Q1 numbers on May 4, sports a Zacks Rank #1 and an Earnings ESP of +3.87%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Pioneer Natural Resources Company PXD, headquartered in Dallas, TX, is a prime explorer with strong focus on the domestic crude and gas resources.
The company sports a Zacks Rank #1 and an Earnings ESP of +1.14% for the first quarter, which is expected to be reported on May 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Headquartered in Denver, CO, Antero Resources AR has operations related to exploration and development of oil and gas resources.
The Zacks #1 Ranked firm has an Earnings ESP of +7.67%. The upstream player is expected to report Q1 numbers on May 14.
Energen Corporation EGN, headquartered in Birmingham, AL, is a leading crude explorer with focus on oil-rich Permian Basin.
The company, with an Earnings ESP of +9.32%, carries a Zacks Rank of #2. Energen is expected to report results on May 3.
Based in Oklahoma City, Continental Resources CLR is also a leading crude explorer in the domestic market. The company, with an Earnings ESP of +5.98% and a Zacks Rank #1, is slated to release results on May 2.
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Energen Corporation (EGN) : Free Stock Analysis Report
Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
Antero Resources Corporation (AR) : Free Stock Analysis Report
Continental Resources, Inc. (CLR) : Free Stock Analysis Report
Baker Hughes Incorporated (BHGE) : Free Stock Analysis Report
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