Oil Stocks To Watch In Q2 Earnings: APC, RRC, VLO & Others
Zacks Investment Research | Jul 24, 2016 09:19PM ET
With the Q2 earnings season in full swing and many of the oil majors scheduled to report their results this week, investors are keen to note how these companies perform. A study of estimated figures of the companies reporting their earnings shows a modest improvement from the exceptionally weak levels in the last couple of quarters. However, growth for the benchmark S&P 500 index is likely to be negative for the fifth quarter in a row. Nine of the 16 Zacks sectors (as of Jul 22) are projected to underperform.
So far, the 126 S&P 500 members that have released their Q2 results account for a total of 32.7% of the index’s market capitalization. Total earnings for these 126 companies are down 1.1% year over year due 2.6% lower revenues. Of these, 70.6% beat earnings per share (EPS) estimates and 55.6% surpassed top-line expectations.
Per the Zacks Investment Research
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