EOG Resources (EOG) Outpaces Stock Market Gains: What You Should Know
EOG Resources (EOG) closed the most recent trading day at $113.54, moving +0.76% from the previous trading session. This change outpaced the S&P 500's 0.57% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.33%.
Coming into today, shares of the oil and gas company had lost 4.52% in the past month. In that same time, the Oils-Energy sector lost 2.71%, while the S&P 500 gained 1.72%.
EOG Resources will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. In that report, analysts expect EOG Resources to post earnings of $2.57 per share. This would mark a year-over-year decline of 35.75%. Meanwhile, our latest consensus estimate is calling for revenue of $5.68 billion, up 42.52% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.07 per share and revenue of $24.7 billion, which would represent changes of -12.28% and -3.92%, respectively, from the prior year.
Any recent changes to analyst estimates for EOG Resources should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.07% lower. EOG Resources is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 9.34. This represents a premium compared to its industry's average Forward P/E of 6.27.
We can also see that EOG currently has a PEG ratio of 0.33. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.33 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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