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EOG Resources (EOG) Gains As Market Dips: What You Should Know
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EOG Resources (EOG - Free Report) closed the most recent trading day at $123.46, moving +0.62% from the previous trading session. This change outpaced the S&P 500's 0.33% loss on the day. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Heading into today, shares of the oil and gas company had lost 0.17% over the past month, outpacing the Oils-Energy sector's loss of 3.77% and the S&P 500's loss of 11.67% in that time.
Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. This is expected to be November 3, 2022. On that day, EOG Resources is projected to report earnings of $4.30 per share, which would represent year-over-year growth of 99.07%. Our most recent consensus estimate is calling for quarterly revenue of $7.37 billion, up 54.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.40 per share and revenue of $28.13 billion, which would represent changes of +78.86% and +50.88%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 3.08% lower. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 7.97. For comparison, its industry has an average Forward P/E of 5.01, which means EOG Resources is trading at a premium to the group.
It is also worth noting that EOG currently has a PEG ratio of 0.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.23 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 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.
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EOG Resources (EOG) Gains As Market Dips: What You Should Know
EOG Resources (EOG - Free Report) closed the most recent trading day at $123.46, moving +0.62% from the previous trading session. This change outpaced the S&P 500's 0.33% loss on the day. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Heading into today, shares of the oil and gas company had lost 0.17% over the past month, outpacing the Oils-Energy sector's loss of 3.77% and the S&P 500's loss of 11.67% in that time.
Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. This is expected to be November 3, 2022. On that day, EOG Resources is projected to report earnings of $4.30 per share, which would represent year-over-year growth of 99.07%. Our most recent consensus estimate is calling for quarterly revenue of $7.37 billion, up 54.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.40 per share and revenue of $28.13 billion, which would represent changes of +78.86% and +50.88%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 3.08% lower. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 7.97. For comparison, its industry has an average Forward P/E of 5.01, which means EOG Resources is trading at a premium to the group.
It is also worth noting that EOG currently has a PEG ratio of 0.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.23 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 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.