In the latest trading session, EOG Resources (EOG) closed at $102, marking a -0.75% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.42%. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, lost 0.47%.
Prior to today's trading, shares of the oil and gas company had gained 21.18% over the past month. This has outpaced the Oils-Energy sector's gain of 8.29% and the S&P 500's gain of 0.39% in that time.
EOG Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.23, up 354.93% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.93 billion, up 99.82% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for EOG Resources. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 0.41% lower within the past month. EOG Resources is currently a Zacks Rank #3 (Hold).
Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 10.13. This valuation marks a premium compared to its industry's average Forward P/E of 6.24.
Investors should also note that EOG has a PEG ratio of 0.49 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. EOG's industry had an average PEG ratio of 0.29 as of yesterday's close.
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 202, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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EOG Resources, Inc. (EOG) : Free Stock Analysis Report
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