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Energy Stock Q4 Earnings Roster for Feb 3: COP, NS & SHEL
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With oil prices improving remarkably, the overall energy business scenario will likely gain in the December quarter. Recovered fuel demand is expected to have aided downstream operations.
Oil Price Surge
The pricing scenario of oil in fourth-quarter 2021 improved drastically from the prior-year period, thanks to the rolling out of coronavirus vaccines. The pricing environment of natural gas also improved dramatically in the December quarter from the year-ago period. The rise in oil and natural gas prices is likely to have aided upstream businesses.
Improved commodity prices have also led to an increase in drilling activities in U.S. resources. Rig count data, as reported by Baker Hughes Company (BKR - Free Report) , clearly revealed that the monthly count of rigs in the United States in the December quarter of 2021 was significantly higher than the year-earlier quarter tally.
Baker Hughes also publishes monthly rig count data. The rotary rig count, issued by Baker Hughes, usually gets published in major newspapers and trade publications.
Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs compared with the prior-week figure indicates the demand trajectory for Baker Hughes’ oilfield services from exploration and production companies.
Quarterly Earnings to Turn Around
Amid the backdrop of increased oil prices and higher drilling activities, upstream energy companies are likely to have generated handsome earnings in the fourth quarter of last year. In addition, the rolling out of coronavirus vaccines is likely to have aided energy companies’ refining operations. This is because compared to the prior-year quarter, more people have socialized and gone to work. Per the latest Zacks Earnings Trends report, the energy sector is likely to have generated earnings of $29.7 billion for the December-end quarter of last year, indicating a massive improvement year over year.
Key Releases
Given the backdrop, let us look at how the following energy companies are placed ahead of their fourth-quarter earnings releases slated for Feb 3.
Our proprietary model indicates that a company needs to have the right combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
ConocoPhillips (COP - Free Report) is geared up to release fourth-quarter earnings before the opening bell.
Our proven model doesn’t predict an earnings beat for ConocoPhillips this time around as it has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The Zacks Consensus Estimate for ConocoPhillips’ earnings is pegged at $2.20 per share, suggesting a massive improvement from the prior-year reported figure.
NuStar Energy L.P. is set to report quarterly earnings before the opening bell. The chances of NuStar Energy delivering an earnings beat this time around are low as it has an Earnings ESP of -31.03% and a Zacks Rank #3.
Being a leading pipeline operator, NuStar Energy is likely to have been aided by stable fee-based revenues from long-term contracts.
Shell plc (SHEL - Free Report) is scheduled to report quarterly earnings before the opening bell. Similar to ConocoPhillips and NuStar Energy, the chances of Shell delivering an earnings beat this time around are low as it has an Earnings ESP of 0.00% and a Zacks Rank #2.
The Zacks Consensus Estimate for Shell’s earnings is pegged at $1.40 per share.
Image: Bigstock
Energy Stock Q4 Earnings Roster for Feb 3: COP, NS & SHEL
With oil prices improving remarkably, the overall energy business scenario will likely gain in the December quarter. Recovered fuel demand is expected to have aided downstream operations.
Oil Price Surge
The pricing scenario of oil in fourth-quarter 2021 improved drastically from the prior-year period, thanks to the rolling out of coronavirus vaccines. The pricing environment of natural gas also improved dramatically in the December quarter from the year-ago period. The rise in oil and natural gas prices is likely to have aided upstream businesses.
Improved commodity prices have also led to an increase in drilling activities in U.S. resources. Rig count data, as reported by Baker Hughes Company (BKR - Free Report) , clearly revealed that the monthly count of rigs in the United States in the December quarter of 2021 was significantly higher than the year-earlier quarter tally.
Baker Hughes also publishes monthly rig count data. The rotary rig count, issued by Baker Hughes, usually gets published in major newspapers and trade publications.
Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs compared with the prior-week figure indicates the demand trajectory for Baker Hughes’ oilfield services from exploration and production companies.
Quarterly Earnings to Turn Around
Amid the backdrop of increased oil prices and higher drilling activities, upstream energy companies are likely to have generated handsome earnings in the fourth quarter of last year. In addition, the rolling out of coronavirus vaccines is likely to have aided energy companies’ refining operations. This is because compared to the prior-year quarter, more people have socialized and gone to work. Per the latest Zacks Earnings Trends report, the energy sector is likely to have generated earnings of $29.7 billion for the December-end quarter of last year, indicating a massive improvement year over year.
Key Releases
Given the backdrop, let us look at how the following energy companies are placed ahead of their fourth-quarter earnings releases slated for Feb 3.
Our proprietary model indicates that a company needs to have the right combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
ConocoPhillips (COP - Free Report) is geared up to release fourth-quarter earnings before the opening bell.
Our proven model doesn’t predict an earnings beat for ConocoPhillips this time around as it has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The Zacks Consensus Estimate for ConocoPhillips’ earnings is pegged at $2.20 per share, suggesting a massive improvement from the prior-year reported figure.
ConocoPhillips Price and EPS Surprise
ConocoPhillips price-eps-surprise | ConocoPhillips Quote
NuStar Energy L.P. is set to report quarterly earnings before the opening bell. The chances of NuStar Energy delivering an earnings beat this time around are low as it has an Earnings ESP of -31.03% and a Zacks Rank #3.
Being a leading pipeline operator, NuStar Energy is likely to have been aided by stable fee-based revenues from long-term contracts.
NuStar Energy L.P. Price and EPS Surprise
NuStar Energy L.P. price-eps-surprise | NuStar Energy L.P. Quote
Shell plc (SHEL - Free Report) is scheduled to report quarterly earnings before the opening bell. Similar to ConocoPhillips and NuStar Energy, the chances of Shell delivering an earnings beat this time around are low as it has an Earnings ESP of 0.00% and a Zacks Rank #2.
The Zacks Consensus Estimate for Shell’s earnings is pegged at $1.40 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.