Yahoo Finance EOG Resources (EOG) Rises But Trails Market: What Investors Should Know
The latest trading session saw EOG Resources (EOG) ending at $126.39, denoting a +0.48% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.86%. Meanwhile, the Dow gained 1.22%, and the Nasdaq, a tech-heavy index, added 0.51%.
Coming into today, shares of the oil and gas company had gained 10.39% in the past month. In that same time, the Oils-Energy sector gained 5.4%, while the S&P 500 gained 2.84%.
The investment community will be closely monitoring the performance of EOG Resources in its forthcoming earnings report. The company is scheduled to release its earnings on May 3, 2024. In that report, analysts expect EOG Resources to post earnings of $2.66 per share. This would mark a year-over-year decline of 1.12%. Meanwhile, our latest consensus estimate is calling for revenue of $5.98 billion, down 1.05% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.43 per share and a revenue of $24.66 billion, signifying shifts of -2.22% and +1.97%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for EOG Resources. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.67% lower. EOG Resources is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, EOG Resources is at present trading with a Forward P/E ratio of 11.01. This indicates a premium in contrast to its industry's Forward P/E of 10.93.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 205, this industry ranks in the bottom 19% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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EOG Resources, Inc. (EOG) : Free Stock Analysis Report
