EOG

It has been about a month since the last earnings report for SM Energy (SM). Shares have added about 16.7% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is SM Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers. SM Energy reported first-quarter 2026 adjusted earnings of $1.55 per share, which topped the Zacks Consensus Estimate of $1.29 by 20.16%. The figure declined 11.9% from the year-ago quarter’s $1.76. Total revenues of $1.48 billion increased 75% year over year and beat the consensus mark of $1.44 billion by 2.99%. The quarter reflected SM’s first full reporting period after the Civitas merger, with average net daily production of 371.2 thousand barrels of oil equivalent per day (MBoe/d) providing a larger base for cash generation alongside cost and capital efficiency improvements. Better-than-expected quarterly results can be attributed to the increase in oil-equivalent production volumes. Management framed 2026 around “Integrate, Execute and Bolster,” and the early integration cadence is translating into a higher synergy outlook. SM raised its annualized run-rate synergy target to $375 million, with about $300 million already actioned. The updated synergy plan spans interest savings, overhead and operational efficiencies. Interest savings are now targeted at $75 million, with full actioning achieved. Meanwhile, overhead and G&A synergies were lifted to $100 million, with most of the organizational structure already in place. The remaining upside is concentrated in drilling, completions and operations. The new $200 million target reflects changes such as completion design optimization, simul-frac adoption in the DJ Basin and broader procurement and scheduling leverage. Beyond scale, the merged portfolio is showing how basin diversity can influence realized pricing and margins. In the quarter, SM’s total production mix was 51% oil and the overall realized price averaged $44.22 per Boe before hedges. The average net daily production was up 88% compared to the prior-year quarter. Realizations varied by commodity and basin, underscoring the value of market optionality. SM’s realized oil price (before the effect of de...

A month has gone by since the last earnings report for EOG Resources (EOG). Shares have added about 5.1% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is EOG Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts. EOG Resources posted adjusted earnings of $3.41 per share in the first quarter of 2026, up 18.8% from the year-ago level of $2.87. The bottom line beat the Zacks Consensus Estimate for earnings of $3.07 by 11.1%. Total revenues of $6.92 billion increased 22.1% year over year and beat the consensus mark of $6.3 billion. Strong quarterly results were supported by higher production, with total crude-oil-equivalent volumes averaging 1,383.8 MBoe/d in the quarter, reflecting strong production execution. EOG Profitability Gains Reflect Higher Output EOG Resources showed solid leverage to production growth. Net income was $2 billion, translating to reported earnings of $3.70 per share, while adjusted net income was $1.8 billion. Income taxes totaled $575 million, implying an effective tax rate of 22.5% in the period. Cost control helped keep the earnings flow-through intact even as activity remained elevated. Lease and well expenses were $462 million, and depreciation, depletion and amortization was $1.19 billion. For investors, the quarter reinforced that EOG’s earnings power is being driven by a combination of operating scale and steady expense execution. EOG Resources Mix Skews Toward Crude & Marketing EOG Resources’ top-line composition highlighted the importance of product and midstream-linked contributions. Revenues from crude oil and condensate were $3.58 billion, while natural gas liquids generated $664 million and natural gas contributed $1.02 billion. In total, revenues from sales of crude oil and condensate, NGLs, and natural gas were $5.26 billion. The company also recorded $1.50 billion in gathering, processing and marketing revenues, which can add variability to reported revenues, depending on volumes and market conditions. Other items included $113 million in gains on mark-to-market derivative contracts and $31 million in gains on asset dispositions, helping round...

ConocoPhillips, EOG Resources, and Phillips 66 drive 38% of IEO’s income, making the fund deeply dependent on energy sector volatility. IEO returned 41% in the past year but retirees should avoid it; payouts are unpredictable and WTI at 98th percentile suggests downside risk. The analyst who called NVIDIA in 2010 just named his top 10 stocks and iShares US Oil & Gas Exploration & Production ETF wasn't one of them. Get them here FREE. The iShares U.S. Oil & Gas Exploration & Production ETF (NYSEARCA:IEO) just paid a $0.55 distribution in March, the lightest quarterly payment since mid-2024. IEO holders are buying the aggregated dividend policies of America's largest oil and gas producers, and those policies flex with the commodity. With WTI back above $112 per barrel in mid-May, the question is whether distributions through the rest of 2026 will hold near current levels, surge toward 2022 highs, or decline as they did during the winter oil swoon. IEO is a passive index fund tracking U.S. oil and gas exploration, production, and refining names. It charges 0.38% in expenses and pays out roughly what its underlying companies pay, net of fees. When ConocoPhillips raises its variable dividend, IEO's next quarterly distribution rises. When EQT cuts in a weak gas market, IEO's distribution shrinks. That mechanic makes the payout inherently lumpy. Quarterly distributions ranged from $0.19 in the second quarter of 2020 to $1.22 in the third quarter of 2022. The 2025 payments averaged $0.58 per share, in line with 2024. IEO functions as a pass-through for energy cash flow. The analyst who called NVIDIA in 2010 just named his top 10 stocks and iShares US Oil & Gas Exploration & Production ETF wasn't one of them. Get them here FREE. Three names produce most of the income. ConocoPhillips alone is roughly 20% of assets, with EOG Resources at about 10% and Phillips 66 at about 9%, putting the top three near 38% of the fund. Marathon Petroleum and Devon Energy add another 11%. ConocoPhillips is the linchpin. The stock is up 43% over the past year and pays a base dividend plus a variable component tied to free cash flow. With WTI averaging well above its breakeven, base coverage is secure. The variable piece will fall if oil retreats toward $55 December 2025 low. Gas-weighted holdings introduce separate risk. EQT and Coterra represent about 9% of the fund, and Henry Hub has c...

U.S. energy operator APA Corporation APA reported first-quarter 2026 adjusted earnings of $1.38 per share, beating the Zacks Consensus Estimate of $1.01. The bottom line rose from the year-ago adjusted profit of $1.06. The outperformance was primarily driven by higher realized oil prices and lower year-over-year expenses. Revenues of $2.2 billion were down 15.2% from the year-ago quarter’s sales but beat the Zacks Consensus Estimate by 4.8%. APA Corporation price-consensus-eps-surprise-chart | APA Corporation Quote Meanwhile, APA continues to reward its shareholders, having paid out $88 million in dividends during the first quarter of 2026. Production of oil and natural gas averaged 442,352 BOE/d, which comprised 69% liquids. The figure was down 6% from the year-ago quarter but surpassed our expectation of 439,997 BOE/d. U.S. output (accounting for 60% of the total) fell 11% year over year to 264,720 BOE/d, but production from the company’s international operations increased 4.1% to 177,632 BOE/d. APA’s oil and natural gas liquids (NGLs) production was 304,947 barrels per day (Bbl/d). Natural gas output totaled 824,426 thousand cubic feet per day (Mcf/d). The average realized crude oil price during the first quarter was $78.69 per barrel, up 6.7% from the year-ago realization of $73.73. The number also significantly surpassed our projection of $56.74. The average realized natural gas price fell to $2.12 per thousand cubic feet (Mcf) from $2.81 in the year-ago period and missed our estimate of $3.62. APA’s first-quarter lease operating expenses totaled $362 million, down 11% from $407 million in the year-ago period. Moreover, an 84.2% drop in purchased oil/gas costs meant that total operating expenses decreased nearly 25% from the corresponding period of 2025 to $1.4 billion. The number was below our model projection of $1.5 billion. During the quarter under review, APA generated $554 million of cash from operating activities while it incurred $564 million in upstream capital expenditures. The Zacks Rank #1 (Strong Buy) company reported an adjusted operating cash flow of $1.2 billion. It also registered a free cash flow of $477 million compared to $126 million a year ago. You can see the complete list of today’s Zacks #1 Rank stocks here. As of March 31, APA had approximately $293 million in cash and cash equivalents and $4.3 billion in long-term debt, repres...

California Resources Corporation CRC posted first-quarter 2026 adjusted earnings of 88 cents per share, down 17.8% year over year but ahead of the Zacks Consensus Estimate by 6%. Total operating revenues before net commodity-derivative impacts were $967 million, up 6% year over year and ahead of the consensus mark by 7.2%. Results reflected CRC’s oil-weighted production base and strong realizations. Net production averaged 154 thousand barrels of oil equivalent per day (MBoe/d), with oil representing 81% of volumes. On a GAAP basis, CRC reported a net loss of $711 million, primarily tied to a non-cash loss in the fair value of outstanding commodity derivatives. That swing in mark-to-market results dominated the income statement even as operating performance tracked well with management’s expectations. Excluding those unusual and non-cash items, CRC generated adjusted net income of $79 million. Adjusted EBITDAX came in at $304 million, underscoring the company’s ability to translate a firmer Brent backdrop into stronger core cash earnings. California Resources Corporation price-consensus-eps-surprise-chart | California Resources Corporation Quote California Resources continued to benefit from favorable oil pricing during the quarter. The company’s average realized oil price was $74.53 per barrel before the impact of hedging, closely tracking Brent crude prices. After including hedging impacts, the realized price came to $69.37 per barrel. Pricing for other products also remained healthy. The company received nearly $45 per barrel for natural gas liquids, while natural gas prices averaged $3.56 per Mcf. These results were supported by CRC’s regional market exposure and pricing strategy. California Resources reported total operating costs of $365 million for the quarter. Administrative expenses came in higher than expected at $106 million, mainly due to legal-related costs and increased employee compensation linked to the company’s rising share price. Other expenses also affected quarterly results. Taxes excluding income taxes totaled $67 million, while transportation expenses were $26 million. Other operating expenses, after adjusting for related revenues, came to $44 million. At the same time, the company benefited from some additional income sources, including $18 million from commodity marketing activities and $6 million from electricity-related operations....

EOG Resources, Inc. (NYSE:EOG) defied analyst predictions to release its quarterly results, which were ahead of market expectations. It was a decent earnings report, with revenues and statutory earnings per share (EPS) both performing well. Revenues were 14% higher than the analysts had forecast, at US$6.9b, while EPS of US$3.70 beat analyst models by 18%. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Taking into account the latest results, the current consensus from EOG Resources' 18 analysts is for revenues of US$28.4b in 2026. This would reflect a sizeable 21% increase on its revenue over the past 12 months. Per-share earnings are expected to jump 59% to US$16.40. In the lead-up to this report, the analysts had been modelling revenues of US$26.5b and earnings per share (EPS) of US$15.24 in 2026. It looks like there's been a modest increase in sentiment following the latest results, withthe analysts becoming a bit more optimistic in their predictions for both revenues and earnings. View our latest analysis for EOG Resources Althoughthe analysts have upgraded their earnings estimates, there was no change to the consensus price target of US$157, suggesting that the forecast performance does not have a long term impact on the company's valuation. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on EOG Resources, with the most bullish analyst valuing it at US$199 and the most bearish at US$135 per share. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure. Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's clear from the latest esti...

Image source: The Motley Fool. Wednesday, May 6, 2026 at 10 a.m. ET Chairman & Chief Executive Officer — Ezra Y. Yacob Chief Financial Officer — Ann D. Janssen Chief Operating Officer — Jeffrey R. Leitzell Executive Vice President, Exploration & Production — Keith P. Trasko Ezra Y. Yacob: Good morning, and thank you for joining us. EOG Resources, Inc. is off to an exceptional start in 2026. Our track record of consistent, high-quality execution continues to set us apart, delivering strong operational performance across our foundational assets while steadily advancing our emerging plays and exploration opportunities. The first quarter was a clear extension of that momentum. We exceeded expectations across key operating and financial metrics; production volumes, total per-unit cash operating costs, and DD&A all outperformed guidance midpoints, driving robust financial results. We generated $1.8 billion in adjusted net income and $1.5 billion in free cash flow. Consistent with our commitment to disciplined capital allocation and enhancing shareholder value, we returned nearly $950 million during the quarter through our regular dividend and opportunistic share repurchases. In today's macro environment, EOG Resources, Inc. is well positioned in realizing the benefits of decisions we made during a more challenging commodity price backdrop. Those actions were deliberate and are paying off. For example, we strengthened our portfolio through the acquisition of nCino, increasing our oil production by approximately 10%, and we complemented that with a strategic bolt-on acquisition in the Eagle Ford. We also enhanced our market exposure by securing LNG contracts linked to JKM and Brent, positioning us to capture premium pricing in global markets. Additionally, we expanded our international footprint with high-quality concessions in the UAE and Bahrain, opportunities that would be difficult to replicate in the current price environment. Finally, we continue to deepen our vertical integration across critical services. This differentiated approach further improves efficiencies, lowers costs, and strengthens execution across our operations. As a testament to investing capital at a disciplined pace, between 2022—which was the last period of very robust oil prices—and 2026, where we are in a similar oil price environment, we have added nearly 100 thousand barrels per day of o...

EOG Resources, Inc. EOG posted adjusted earnings of $3.41 per share in the first quarter of 2026, up 18.8% from the year-ago level of $2.87. The bottom line beat the Zacks Consensus Estimate for earnings of $3.07 by 11.1%. Total revenues of $6.92 billion increased 22.1% year over year and beat the consensus mark of $6.3 billion. Strong quarterly results were supported by higher production, with total crude-oil-equivalent volumes averaging 1,383.8 MBoe/d in the quarter, reflecting strong production execution. EOG Resources, Inc. price-consensus-eps-surprise-chart | EOG Resources, Inc. Quote EOG Resources showed solid leverage to production growth. Net income was $2 billion, translating to reported earnings of $3.70 per share, while adjusted net income was $1.8 billion. Income taxes totaled $575 million, implying an effective tax rate of 22.5% in the period. Cost control helped keep the earnings flow-through intact even as activity remained elevated. Lease and well expenses were $462 million, and depreciation, depletion and amortization was $1.19 billion. For investors, the quarter reinforced that EOG’s earnings power is being driven by a combination of operating scale and steady expense execution. EOG Resources’ top-line composition highlighted the importance of product and midstream-linked contributions. Revenues from crude oil and condensate were $3.58 billion, while natural gas liquids generated $664 million and natural gas contributed $1.02 billion. In total, revenues from sales of crude oil and condensate, NGLs, and natural gas were $5.26 billion. The company also recorded $1.50 billion in gathering, processing and marketing revenues, which can add variability to reported revenues, depending on volumes and market conditions. Other items included $113 million in gains on mark-to-market derivative contracts and $31 million in gains on asset dispositions, helping round out operating revenues during the quarter. EOG delivered a clear year-over-year step-up in liquids volumes. Crude oil and condensate volumes rose to 548.5 MBbld from 502.1 MBbld in the year-ago quarter. Natural gas liquids volumes increased to 332.1 MBbld from 241.7 MBbld, while natural gas volumes climbed to 3,020 MMcfd from 2,080 MMcfd. Realized pricing provided added support on the liquids side. Composite crude oil and condensate pricing averaged $72.47 per barrel versus $72.87 a year ago,...

EOG Resources (EOG) reported Q1 non-GAAP earnings late Tuesday of $3.41 per diluted share, up from $

HOUSTON (AP) — HOUSTON (AP) — EOG Resources Inc. (EOG) on Tuesday reported first-quarter earnings of $1.98 billion. The Houston-based company said it had profit of $3.70 per share. Earnings, adjusted for non-recurring gains, came to $3.41 per share. The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.07 per share. The oil and gas company posted revenue of $6.92 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $6.27 billion. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EOG at https://www.zacks.com/ap/EOG

HOUSTON, May 5, 2026 /PRNewswire/ -- EOG Resources, Inc. (EOG) today reported first quarter 2026 results. The attached schedules for the reconciliation of Non-GAAP measures to GAAP measures, along with a related presentation, are also available on EOG's website at http://investors.eogresources.com/investors. First Quarter Highlights Earned net income of $2.0 billion, or $3.70 per share, and adjusted net income of $1.8 billion, or $3.41 per share Delivered net cash provided by operating activities of $3.0 billion and Adjusted CFO1 of $3.1 billion Generated $1.5 billion of free cash flow Declared regular quarterly dividend of $1.02 per share Paid $544 million in regular dividends and repurchased $402 million of shares Volumes better than guidance midpoints with in-line capital expenditures Total per-unit cash operating costs and DD&A better than guidance midpoints Oil and natural gas price realizations better than guidance midpoints Increasing full year oil and NGL production guidance reflecting reallocation of capital program CEO Commentary "EOG delivered exceptional results in the first quarter, with oil, gas, and NGL volumes exceeding the midpoints of guidance while maintaining rigorous cost discipline - total per-unit cash operating costs and DD&A both came in better than guidance midpoints. Operational excellence translated into robust financial performance: we generated $1.5 billion in free cash flow and returned nearly $950 million to shareholders through our regular dividend and share repurchases. Our first quarter results reflect strong execution and progress towards our full-year objectives. We are reallocating some capital for the remainder of this year to liquids assets while keeping our capital budget unchanged. This drives a modest increase in oil and NGL production this year versus our prior guidance while providing optionality for future growth. This change reflects the flexibility to invest across our high-return, multi-basin portfolio with differentiated exposure to natural gas, liquids, conventionals, and unconventionals. EOG is well positioned to thrive in the current dynamic macro environment. Our competitive advantages drive differentiated performance: a best-in-class balance sheet providing financial strength and flexibility to invest through cycles; premium pricing exposure in key markets enhancing revenue realizations; differentiated e...

EOG Resources (EOG) came out with quarterly earnings of $3.41 per share, beating the Zacks Consensus Estimate of $3.07 per share. This compares to earnings of $2.87 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +11.04%. A quarter ago, it was expected that this oil and gas company would post earnings of $2.2 per share when it actually produced earnings of $2.27, delivering a surprise of +3.18%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. EOG Resources, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $6.92 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 10.40%. This compares to year-ago revenues of $5.67 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. EOG Resources shares have added about 34.9% since the beginning of the year versus the S&P 500's gain of 5.2%. While EOG Resources has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for EOG Resources was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complet...