Earnings Preview: Big Week For Independent Oil And Gas (EOG, APC, MRO, APA)

This week saw a flurry of economic and earnings reports, with several well-known commodity firms posting both hits and misses. Newmont Mining Corp (NEM) revenue and earnings came in below expectations, while Suncor Energy (SU) beat forecasts. Independent oil and gas firm Devon Energy Corp. (DVN) beat EPS estimates by $0.10, though the company reported a loss in the first quarter of $1.3 billion [for more commodity news and analysis subscribe to our free newsletter].

Below, we highlight four important commodity firms reporting earnings next week:

  • EOG Resources (EOG): This independent oil and gas company is slated to report earnings on Monday. Analysts expect earnings per share to come in at $1.17, slightly higher than last month’s estimate, but lower than expectations three months ago. In Q4 of 2012, EPS came in at $1.61. For the last three quarters, EOG Resources has beaten analysts’ earnings expectations. Revenues are expected to rise slightly to $3.1 billion, as compared to last quarter’s $3.0 billion figure.
  • Anadarko Petroleum Corp (APC): Another independent oil and gas firm, Anadarko will Independent Oil also be reporting on Monday, with analysts expecting a slight uptick in earnings. Last quarter, EPS came in at $0.91 and for Q1, earnings are forecasted to  be around $0.93; for the past three months, EPS estimates have increased. Revenues, however, are expected to remain the same at $3.4 billion [see 2013 Commodity Trades You Wish You Made].
  • Marathon Oil Corp. (MRO): This popular oil company is expected to report first quarter earnings on Tuesday. Analyst forecasts for earnings are around $0.72 per share, which is significantly higher than last quarter’s $0.55 figure. Revenues are also expected to increase to $4.6 billion, compared to last quarters $4.2 billion.
  • Apache Corp. (APA): Finishing out the week, this Texas-based company is slated to report earnings on Friday. Analysts’ earnings estimates have decreased since three months ago, but are slightly higher than last month’s; EPS is now expected to come in at $2.20, down slightly from last quarter’s $2.27 figure. Revenues are also expected to slightly decrease; analysts estimate revenue to be $4.3 billion, compared to the fourth quarter’s $4.4 billion figure.

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Disclosure: No positions at time of writing.

About Daniela Pylypczak

Daniela Pylypczak-Wasylyszyn is a regular contributor to CommodityHQ.com, where she primarily focuses on commodity producers equities. She is also an analyst for ETFdb.com, where she contributes articles and analysis each week. Since joining the team in 2011, Daniela has quickly grown to be one of the most widely-followed authors in the industry. Her articles are syndicated in a number of online publications, including Financial Advisor Magazine, Fidelity.com, and Yahoo! Finance. Daniela is also a contributor for TraderHQ.com and Dividend.com. Daniela graduated from DePaul University with a bachelor’s degree in finance and economics.
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