Looking for a stock that might be in a good position to beat earnings at its next report? Consider Legacy Reserves LP , a firm in the Oil & Gas - US Exploration & Production industry, which could be a great candidate for another beat.

This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, LGCYhas beaten estimates by at least 10% in both cases, suggesting it has a nice short-term history of crushing expectations.

Earnings in Focus

Two quarters ago, LGCY expected to post a loss of 38 cents per share, while it actually produced a loss of 33 cents per share, a beat of 13.2%. Meanwhile, for the most recent quarter, the company looked to deliver a loss of 56 cents per share, when it actually saw loss of 43 cents per share instead, representing a 23.2% positive surprise.

Thanks in part to this history, recent estimates have been moving higher for Legacy Reserves. In fact, the Earnings ESP for LGCYis positive, which is a great sign of a coming beat.

After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for LGCYas the firm currently has a Zacks Earnings ESP of 31.58%, so another beat could be around the corner.

This is particularly true when you consider that LGCYhas a great Zacks Rank #1(Strong Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. And when you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that LGCYcould see another beat at its next report, especially if recent trends are any guide.

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