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WPX Energy (WPX) to Report Q3 Earnings: What's in the Cards?

Zacks Equity Research

WPX Energy Inc. WPX is scheduled to release third-quarter 2019 results on Oct 30. In the last reported quarter, the company delivered a positive earnings surprise of 28.7%.

Let’s see how things have shaped up before the upcoming earnings announcement.

Factors to Consider

WPX Energy’s third-quarter oil production is anticipated to have improved, primarily due to the wells that were completed late in the second quarter or early July.

The company’s strategic transformation via selling off non-core assets and expanding midstream operations is likely to have had a positive impact on third-quarter performance.

The Zacks Consensus Estimate for third-quarter 2019 total production is pegged at 173,000 barrels per day, which indicates an increase of 39.5% from the year-ago reported figure. Out of the total production in the third quarter, 63% is expected to be oil.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for WPX Energy this season. A stock needs to have both a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here as you will see below.

WPX Energy, Inc. Price and EPS Surprise

Earnings ESP: The company’s Earnings ESP is -13.33%.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, WPX Energy carries a Zacks Rank #3.

Stocks to Consider

Here are a few companies worth considering from the same industry that have the right combination of elements to beat on earnings in the upcoming releases.

Pioneer Natural Resources Company PXD is set to release third-quarter results on Nov 4. It has an Earnings ESP of +1.51% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Chesapeake Energy Corporation CHK is slated to announce third-quarter results on Nov 5. It has an Earnings ESP of +8.24% and a Zacks Rank #3.

Noble Energy Inc. NBL is set to release third-quarter results on Nov 7. It has an Earnings ESP of +4.78% and a Zacks Rank of 3.

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Click to get this free report Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report Noble Energy Inc. (NBL) : Free Stock Analysis Report WPX Energy, Inc. (WPX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research