In its upcoming report, EOG Resources (EOG) is predicted by Wall Street analysts to post quarterly earnings of $2.74 per share, reflecting a decline of 2.8% compared to the same period last year. Revenues are forecasted to be $5.88 billion, representing a year-over-year decrease of 4%.

The current level reflects a downward revision of 12.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

With that in mind, let's delve into the average projections of some EOG Resources metrics that are commonly tracked and projected by analysts on Wall Street.

The consensus among analysts is that 'Revenues- Natural gas' will reach $669.21 million. The estimate indicates a year-over-year change of +75.2%.

Analysts predict that the 'Revenues- Crude Oil and Condensate' will reach $3.26 billion. The estimate suggests a change of -6.2% year over year.

It is projected by analysts that the 'Revenues- Natural Gas Liquids' will reach $527.24 million. The estimate suggests a change of +2.8% year over year.

The collective assessment of analysts points to an estimated 'Revenues- Gathering, Processing and Marketing' of $1.37 billion. The estimate suggests a change of -6.3% year over year.

Based on the collective assessment of analysts, 'Crude Oil Equivalent Volumes per day - Total' should arrive at 1,084.04 millions of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 1028.8 millions of barrels of oil equivalent.

Analysts expect 'Natural Gas Volumes per day - Total' to come in at 2,052.84 millions of cubic feet. The estimate is in contrast to the year-ago figure of 1858 millions of cubic feet.

The combined assessment of analysts suggests that 'Crude Oil and Condensate Volumes per day - Total' will likely reach 500.08 millions of barrels of oil. The estimate is in contrast to the year-ago figure of 487.4 millions of barrels of oil.

The consensus estimate for 'Natural Gas Liquids Volumes per day - Total' stands at 242.22 millions of barrels of oil. Compared to the current estimate, the company reported 231.7 millions of barrels of oil in the same quarter of the previous year.

Analysts' assessment points toward 'Average Crude Oil and Condensate Prices per bbl - United States' reaching $72.78. The estimate compares to the year-ago value of $78.46.

According to the collective judgment of analysts, 'Total Production' should come in at 97.80 MBOE. Compared to the current estimate, the company reported 93.6 MBOE in the same quarter of the previous year.

The average prediction of analysts places 'Average Natural Gas Liquids Prices per bbl - Composite' at $24.82. The estimate is in contrast to the year-ago figure of $24.32.

Analysts forecast 'Crude Oil and Condensate Volumes per day - United States' to reach 498.43 millions of barrels of oil. The estimate is in contrast to the year-ago figure of 486.8 millions of barrels of oil.

View all Key Company Metrics for EOG Resources here>>>

Over the past month, shares of EOG Resources have returned -10.7% versus the Zacks S&P 500 composite's -4.3% change. Currently, EOG carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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