Key Takeaways EOG reported Q4 EPS of $2.27, beating estimates on 28% higher oil-equivalent volumes.EOG's crude output rose 10.4%, while NGL and natural gas volumes surged year over year.EOG generated $978M free cash flow and set 2026 production at 1,373.1- 1,418.2 Mboe/d.EOG Resources (EOG) reported fourth-quarter 2025 adjusted earnings per share of $2.27, which beat the Zacks Consensus Estimate of $2.20. The bottom line decreased from the year-ago quarter’s $2.74.Total quarterly revenues of $5.64 billion m ...

Riley Exploration Permian, Inc. (REPX) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on March 4, might help the stock move higher if these key numbers are ...

Key Takeaways Sunoco LP Q4 earnings of 9 cents missed estimates as expenses surged.SUN's revenues rose to $8.6B, but higher costs weighed on net income and margins.Sunoco LP boosted its quarterly distribution 1.25% and guided 2026 EBITDA to $3.1-$3.3B.Sunoco LP (SUN) reported fourth-quarter 2025 earnings of 9 cents per unit, which missed the Zacks Consensus Estimate of $1.64. The bottom line declined from the year-ago quarter’s level of 75 cents.Total quarterly revenues of $8.6 billion missed the Zacks Cons ...

Core Insights - Cenovus Energy Inc. reported fourth-quarter 2025 adjusted earnings per share of 36 cents, exceeding the Zacks Consensus Estimate of 28 cents, and a significant increase from 5 cents in the same quarter last year [1] - Total quarterly revenues were $7.8 billion, which fell short of the Zacks Consensus Estimate of $9.7 billion and decreased from $8.4 billion year-over-year [1] Operational Performance - The Oil Sands unit's operating margin was C$2.23 billion, down from C$2.34 billion a year ago, with daily oil sands production reaching 724.3 thousand barrels per day, a 15.6% increase year-over-year [3] - The Conventional unit's operating margin increased to C$159 million from C$88 million year-over-year, with daily conventional production at 26.2 thousand barrels compared to 24.5 thousand barrels a year ago [4] - The Offshore segment generated an operating margin of C$244 million, slightly up from C$242 million in the previous year, with daily offshore liquid production at 24 thousand barrels, higher than 19.5 thousand barrels a year ago [5] - Total upstream production for the quarter was 917.9 thousand barrels of oil equivalent per day, compared to 816 thousand barrels in the same quarter last year [5] Downstream Performance - The Canadian Refining unit's operating margin improved to C$68 million from C$47 million in the fourth quarter of 2024, processing 112.9 thousand barrels of crude oil per day [6] - The U.S. Refining unit reported an operating margin of C$81 million, a recovery from a negative operating margin of C$443 million in the prior-year quarter, with crude oil processed volumes totaling 352.6 thousand barrels per day [6] Expenses - Transportation and blending expenses rose to C$2.66 billion from C$2.61 billion in the fourth quarter of 2024 [7] - Expenses for purchased products decreased to C$4.1 billion from $6.3 billion in the prior-year quarter [7] Capital Investment & Balance Sheet - Cenovus made total capital investments of C$1.36 billion in the quarter, with cash and cash equivalents of C$2.7 billion and long-term debt of C$11 billion as of December 31, 2025 [9] Guidance - Cenovus provided guidance for 2026, projecting total upstream production between 945-985 thousand barrels of oil equivalent per day and U.S. downstream throughput of 430-450 thousand barrels per day, with anticipated capital expenditure ranging from $5 billion to $5.3 billion [10]

Financial Performance - EQT Corporation reported fourth-quarter 2025 adjusted earnings from continuing operations of 90 cents per share, exceeding the Zacks Consensus Estimate of 73 cents and up from 67 cents in the prior year [1] - Adjusted operating revenues increased to $2,094 million from $1,821 million in the prior-year quarter, surpassing the Zacks Consensus Estimate of $2,064 million [1] Production and Sales - Sales volume increased to 609 billion cubic feet equivalent (Bcfe) from 605 Bcfe in the year-ago quarter, beating the estimate of 598 Bcfe [3] - Natural gas sales volume was 572 Bcf, up from 566 Bcf in the year-ago quarter, exceeding the estimate of 561 Bcf [3] - Total liquid sales volume decreased to 6,127 thousand barrels (MBbls) from 6,552 MBbls in the prior year, missing the projection of 6,145 MBbls [3] Commodity Prices - The average realized price was $3.44 per thousand cubic feet of natural gas equivalent (Mcfe), up from $3.01 year over year [4] - The average natural gas price, including cash-settled derivatives, was $3.32 per Mcf, an increase from $2.86 [4] - The natural gas sales price was $3.76 per Mcf, higher than $2.97 recorded a year ago [4] - The oil price was $44.98 per barrel compared to $54.75 in the prior year [5] Expenses - Total operating expenses were $1,372 million, up from $843 million in the prior-year quarter [6] - Gathering expenses totaled 10 cents per Mcfe, up from 9 cents year over year [6] - Transmission expenses stood at 40 cents per Mcfe, down from 41 cents recorded a year ago [6] - Lease operating expenses amounted to 11 cents per Mcfe, higher than 9 cents in the corresponding period of 2024 [6] - Selling, general and administrative expenses came in at 18 cents per Mcfe, flat year over year [6] Cash Flow - Adjusted operating cash flow totaled $1.55 billion in the reported quarter, up from $1.23 billion a year ago [7] - Free cash flow amounted to $857 million, an increase from $588 million in the corresponding period of 2024 [7] Capital Expenditure and Balance Sheet - Total capital expenditure was $655 million, higher than $583 million reported a year ago [9] - As of December 31, 2025, the company had cash and cash equivalents of $111 million and net debt worth $7.69 billion [9] Guidance - For the first quarter of 2026, EQT expects total sales volume to be between 560 Bcfe and 610 Bcfe [10] - Total sales volume is forecasted to be in the range of 2,275-2,375 Bcfe for 2026 [10] - Total maintenance capital expenditures are projected to be between $515 million and $590 million, with growth capital expenditures anticipated to be between $120 million and $145 million in the first quarter [10]

Core Insights - PBF Energy Inc. reported a fourth-quarter 2025 adjusted earnings of 49 cents per share, surpassing the Zacks Consensus Estimate of a loss of 15 cents, and improving from a loss of $2.82 per share in the same quarter last year [1][8] - Total quarterly revenues decreased to $7.14 billion from $7.35 billion in the prior-year quarter, but still exceeded the Zacks Consensus Estimate of $6.98 billion [1] Financial Performance - The strong quarterly earnings were attributed to a higher refining margin per barrel of throughput and a reduction in total costs and expenses [2] - PBF Energy's operating income in the Refining segment was $205.7 million, a significant recovery from an operating loss of $362 million a year ago [3] - The Logistics segment generated a profit of $52.7 million, slightly up from $51.7 million in the prior-year quarter [3] Throughput and Margins - Crude oil and feedstock throughput volumes reached 888.9 thousand barrels per day (bpd), an increase from 862 thousand bpd a year ago, with the East Coast contributing 37.2% of the total throughput [4] - The company-wide gross refining margin per barrel of throughput was $11.16, significantly higher than $4.89 in the previous year, with notable increases across all regions [5] Costs and Expenses - Total costs and expenses for the quarter were $7 billion, down from $7.7 billion in the year-ago period, with cost of sales amounting to $7.3 billion [6] Capital Expenditure and Balance Sheet - PBF Energy invested $113.6 million in capital for refining operations and $3.1 million for logistics businesses, ending the quarter with cash and cash equivalents of $527.9 million [7] - The total debt stood at $2.15 billion, resulting in a total debt-to-capitalization ratio of 28% [7] Outlook - For the first quarter of 2026, PBF Energy expects throughput volumes on the East Coast to be between 280,000 bpd and 300,000 bpd, with similar estimates for other regions [9] - The company is also working to restore the full operational capability of the Martinez refinery within the year [9]

Core Insights - Antero Midstream reported Q4 2025 earnings per share of 11 cents, missing the Zacks Consensus Estimate of 24 cents, and down from 23 cents in the same quarter last year [1][11] - Total quarterly revenues reached $297 million, exceeding the Zacks Consensus Estimate of $294 million, and improved from $287 million year-over-year [1] Operational Performance - Average daily compression volumes were 3,424 million cubic feet (MMcf/d), up from 3,266 MMcf/d in the year-ago quarter, and above the estimate of 3,274 MMcf/d [3] - High-pressure gathering volumes totaled 3,193 MMcf/d, a 5% increase from 3,045 MMcf/d year-over-year, surpassing the estimate of 3,068 MMcf/d [4] - Low-pressure gathering volumes averaged 3,435 MMcf/d, compared to 3,276 MMcf/d a year ago, exceeding the estimate of 3,296 MMcf/d [5] - Freshwater delivery volumes were 93 MBbls/d, down 18% from 114 MBbls/d in the prior-year quarter, with an average distribution fee of $4.37, slightly above the estimate of $4.31 [6] Operating Expenses - Direct operating expenses were $54.1 million, down from $55.9 million a year ago [7] - Total operating expenses increased to $196.5 million from $109.7 million in the corresponding period of 2024 [7][11] Balance Sheet - As of December 31, 2025, the company had cash and cash equivalents of $180 million and long-term debt of $3.2 billion [8]

Core Insights - Antero Resources reported Q4 2025 adjusted earnings of 42 cents per share, missing the Zacks Consensus Estimate of 52 cents, and down from 58 cents in the same quarter last year [1][2][9] - Total revenues for the quarter were $1,412 million, exceeding the Zacks Consensus Estimate of $1,309 million, and up from $1,169 million year-over-year [1][3] Production Overview - Total production in Q4 was 323 billion cubic feet equivalent (Bcfe), an increase from 316 Bcfe a year ago, and above the estimate of 319 Bcfe [3] - Natural gas production accounted for 64% of total production, reaching 208 Bcf, a 6% increase from 196 Bcf year-over-year, slightly below the estimate of 210 Bcf [3] - Oil production decreased to 756 thousand barrels (MBbls), down 11% from 850 MBbls in the previous year, and below the estimate of 841 MBbls [4] - C2 Ethane production was 7,668 MBbls, a 10% decrease from 8,518 MBbls year-over-year, while C3+ NGLs production increased by 1% to 10,678 MBbls [4] Price Realizations - Weighted natural-gas-equivalent price realization was $3.97 per thousand cubic feet equivalent (Mcfe), up from $3.64 year-over-year [5] - Realized prices for natural gas rose 34% to $3.71 per Mcf from $2.77 a year ago [5] - Oil price realization was $45.99 per barrel (Bbl), down from $57.80 year-over-year [5] - Realized price for C3+ NGLs decreased to $35.41 per Bbl from $44.29, while C2 Ethane's realized price increased to $12.54 per Bbl from $10.31 [6] Operating Expenses - Total operating expenses rose to $1,122 million from $1,111 million in the previous year [7] - Average lease operating costs remained flat at 10 cents per Mcfe, while gathering and compression costs increased by 6% to 75 cents per Mcfe [7] - Transportation expenses rose 12% year-over-year to 67 cents per Mcfe, and processing costs increased by 6% to 90 cents per Mcfe [7] Capital Expenditures and Financials - Antero Resources spent $159 million on drilling and completion operations in Q4 [10] - As of December 31, 2025, the company had a long-term debt of $1.4 billion [10] Future Outlook - The company expects Q1 2026 production to average 3.8 Bcfe/d and net production for 2026 to be 4.1 Bcfe/d [11] - Drilling and completion capital for 2026 is projected to be $1 billion [11]

Group 1: Company Overview - Oceaneering International (OII) is part of the Oils-Energy sector, which includes 234 companies and is currently ranked 15 in the Zacks Sector Rank [2] - OII belongs to the Oil and Gas - Field Services industry, which consists of 19 stocks and is ranked 85 in the Zacks Industry Rank [5] Group 2: Performance Metrics - OII has returned 42.7% year-to-date, outperforming the Oils-Energy sector average return of 18.6% [4] - The average gain for stocks in the Oil and Gas - Field Services industry is 31.1%, indicating that OII is performing better than its industry peers [5] Group 3: Analyst Sentiment - OII has a Zacks Rank of 2 (Buy), reflecting a positive outlook [3] - The Zacks Consensus Estimate for OII's full-year earnings has increased by 0.8% over the past quarter, indicating improving analyst sentiment [3] Group 4: Comparison with Peers - W&T Offshore (WTI), another stock in the Oils-Energy sector, has a year-to-date return of 60.7% and also holds a Zacks Rank of 2 (Buy) [4][5] - The Oil and Gas - Exploration and Production - United States industry, to which WTI belongs, has a lower average return of 14.3% year-to-date compared to OII's performance [6]

Core Insights - BP plc reported fourth-quarter 2025 adjusted earnings of 60 cents per American Depositary Share, exceeding the Zacks Consensus Estimate of 57 cents and improving from 44 cents a year ago [1][10] - Total quarterly revenues were $47.7 billion, falling short of the Zacks Consensus Estimate of $59.9 billion and declining from $48.1 billion reported in the previous year [1][10] Operational Performance - BP's total production for the fourth quarter was 1,555 thousand barrels of oil equivalent per day (Mboe/d), an increase from 1,449 Mboe/d in the year-ago quarter [3] - The company sold liquids at an average price of $56.09 per barrel, down from $65.56 a year ago, and natural gas at $3.19 per thousand cubic feet (mcf), down from $3.29 [4] - Overall hydrocarbon price realization decreased to $44.98 per Boe from $52.28 year over year [4] Segment Performance - Underlying replacement cost earnings before interest and tax for the oil segment were $1.96 billion, down from $2.92 billion in the year-ago quarter, impacted by lower liquid price realizations and increased depreciation [5] - Gas & Low Carbon Energy segment profits totaled $1.39 billion, lower than $1.99 billion in the previous year, with total production declining to 788 Mboe/d from 850 Mboe/d [6] - The customers & products segment reported underlying replacement cost earnings before interest and tax of $1,346 million, significantly higher than a loss of $302 million in the year-ago quarter, driven by stronger performance and cost reductions [7] Refining and Capital Expenditure - BP's refining availability was 96% in the fourth quarter, up from 94.8% a year ago, with total refinery throughputs increasing to 1,460 thousand barrels per day (MBbl/D) from 1,390 MBbl/D [8] - Organic capital expenditure for the quarter was $3.5 billion, with total capital spending at $4.2 billion [11] Financials and Outlook - BP's net debt stood at $22.2 billion at the end of the fourth quarter, with a gearing of 23.1% [12] - For the first quarter of 2026, BP expects upstream production to remain flat and anticipates a seasonal decline in volumes in its customers' business [13] - For 2026, BP forecasts flat underlying upstream production compared to 2025, with anticipated divestment proceeds of $9-$10 billion and capital expenditures between $13 billion and $13.5 billion [14]