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Why EOG Resources (EOG) is a Top Momentum Stock for the Long-Term

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

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EOG Resources (EOG)

Headquartered in Houston, TX, EOG Resources Inc. primarily focuses on the exploration and production of oil and natural gas. While the company's operations extend to the United States and Trinidad, the majority of its activities are concentrated across the oil-rich resources within the United States.

EOG sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is down 3% and up 6.7% over the past one-week and four-week period, respectively, and EOG Resources has gained 11.7% in the last one-year period as well. Additionally, an average of 2,998,448.75 shares were traded over the last 20 trading sessions.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.05 to $12.07 per share. EOG boasts an average earnings surprise of 8.7%.

Investors should take the time to consider EOG for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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EOG Resources, Inc. (EOG) : Free Stock Analysis Report

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