In the current stock market environment, oil and gas stocks continue to beat earnings estimates and are expected to keep the streak alive in the next period. Here are two oil and gas companies that top the list.
Devon Energy Corp. (DVN) Devon Energy is an independent oil and natural gas exploration and production company.
- Wall Street analysts expect Devon Energy to post earnings of $1.57 per share in May. This would mark year-over-year growth of 248.89%.
- Latest consensus estimate is calling for revenue of $3.63 billion, up 105.9% from the same time last year.
- The company boasts an average surprise earnings for the past two quarters of 16.13%.
Marathon Oil Corp. operates in four of the major resource regions in the U.S. as well as Equatorial Guinea.
- The wells drilled by Marathon have extremely low oil price breakeven costs of $35 a barrel to be profitable.
- Marathon reported adjusted earnings of $0.77 for the final quarter of 2021, delivering an earnings beat of 38%.
- The company may still have upside potential with a 12-month EV/EBITDA ratio of 6.35X, lower than the industry average of 7.86X.