China Launches Inspections to Halt Excessive Coal Production
The National Energy Administration is carrying out monthlong inspections in eight provinces and regions, including the biggest coal hubs of Shanxi, Inner Mongolia, Shaanxi, and Xinjiang, as part of a crackdown on overmining that it says has distorted the market. That's according to a document from the agency dated July 10, which first began circulating on Chinese social media on Tuesday morning, and which people familiar with the matter later confirmed as authentic to Bloomberg News. The people declined to be named discussing a sensitive matter.
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The chances of a Norway-based integrated oil and gas company delivering an earnings beat this time around are low, as it has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can see the complete list of today's Zacks #1 Rank stocks here. Equinor ASA is a leading Norwegian energy company with a diversified portfolio across oil, gas, and renewables. The company is actively driving the energy transition through investments in offshore wind, green hydrogen, and carbon capture, while continuing to operate in traditional petroleum markets. Founded in 1972 and rebranded from Statoil in 2018, Equinor is headquartered in Stavanger and operates globally. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. The Zacks Consensus Estimate for Equinor's earnings is pegged at 66 cents per share, suggesting a 1.15% decrease from the prior-year reported figure. Regarding earnings surprises, Equinor's earnings beat the Zacks Consensus Estimate twice in the last four quarters and missed twice, delivering an average negative surprise of 5.93%. This is depicted in the chart below: Equinor ASA Price and EPS Surprise Equinor ASA price-eps-surprise | Equinor ASA Quote Core Laboratories Inc. CLB is scheduled to report quarterly earnings after the market opens. The chances of a Houston, TX-based oil and gas equipment and services company delivering an earnings beat this time around are low, as it has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell) at present. Core Laboratories provides specialized services and products to the oil and gas industry worldwide. The company operates through two main segments: Reservoir Description and Production Enhancement. It offers advanced laboratory and field services to analyze reservoir rock and fluids, support carbon capture and geothermal projects, and enhance oil recovery. Core Lab also provides technologies for improving well completions, stimulations, and production performance. The Zacks Consensus Estimate for Core Laboratories' earnings is pegged at 18 cents per share, suggesting an 18.18% decrease from the prior-year reported figure. Regarding earnings surprises, Core Laboratories' earnings missed the Zacks Consensus Estimate in two of the trailing four quarters, matched in one quarter and beat the remaining one, delivering an average negative surprise of 1.57% This is depicted in the chart below: Core Laboratories Inc. Price and EPS Surprise Core Laboratories Inc. price-eps-surprise | Core Laboratories Inc. Quote Oceaneering International, Inc. OII is slated to report quarterly earnings following the market open. The chances of a Houston, TX-based oil and gas equipment and services company delivering an earnings beat this time around are low, as it has an Earnings ESP of +4.76% and a Zacks Rank #4 at present. Oceaneering International, headquartered in Houston, TX, delivers advanced engineered services and robotic technologies to industries, such as offshore energy, defense, aerospace, and entertainment. Established in 1964, the company provides remotely operated vehicles, subsea installation and inspection services, as well as digital and integrity management solutions worldwide. Its offerings include subsea hardware, pipeline repair systems, and autonomous robotic technologies, supporting complex projects across multiple continents. Oceaneering's broad expertise helps clients improve safety, efficiency, and operational performance in challenging environments. The Zacks Consensus Estimate for Oceaneering's earnings is pegged at 42 cents per share, suggesting a 50% increase from the prior-year reported figure. Regarding earnings surprises, Oceaneering's earnings beat the Zacks Consensus Estimate once in the last four quarters and missed thrice, delivering an average negative surprise of 10.21%. (Read more: What's in Store for Oceaneering International Stock in Q2 Earnings?) This is depicted in the chart below: Oceaneering International, Inc. Price and EPS Surprise Oceaneering International, Inc. price-eps-surprise | Oceaneering International, Inc. Quote Lastly, Patterson-UTI Energy, Inc. PTEN is slated to report quarterly earnings once trading begins. Given current indicators, the Houston-based oil and gas driller is not expected to beat earnings estimates this time as it has an Earnings ESP of -2.63% and a Zacks Rank #3 at present. Patterson-UTI Energy delivers comprehensive drilling and completion solutions to oil and gas exploration companies across the U.S. and internationally. Established in 1978, the company operates through Drilling Services, Completion Services, and Drilling Products segments, providing contract drilling, hydraulic fracturing, and the design and rental of specialized drill bits. Patterson-UTI also integrates advanced technologies, such as real-time data analytics and measurement-while-drilling systems, to improve well accuracy and efficiency. Its broad range of services supports safer and more effective energy production in onshore basins. The Zacks Consensus Estimate for Patterson-UTI's loss is pegged at 4 cents per share, suggesting a 180% decrease from the prior-year reported figure. Regarding earnings surprises, Patterson-UTI's earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed the remaining three, delivering an average negative surprise of 16.11%. (Read more: Patterson-UTI Energy to Post Q2 Earnings: Here's What to Expect?) This is depicted in the chart below: Patterson-UTI Energy, Inc. Price and EPS Surprise Patterson-UTI Energy, Inc. price-eps-surprise | Patterson-UTI Energy, Inc. Quote Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Patterson-UTI Energy, Inc. (PTEN) : Free Stock Analysis Report Core Laboratories Inc. (CLB) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Equinor ASA (EQNR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
