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EOG Resources (EOG) Stock Sinks As Market Gains: What You Should Know
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EOG Resources (EOG - Free Report) closed at $126.85 in the latest trading session, marking a -0.6% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Heading into today, shares of the oil and gas company had gained 0.12% over the past month, lagging the Oils-Energy sector's gain of 4.41% and outpacing the S&P 500's loss of 0.23% in that time.
Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. On that day, EOG Resources is projected to report earnings of $3.58 per share, which would represent year-over-year growth of 15.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.53 billion, up 8.03% from the year-ago period.
Investors should also note any recent changes to analyst estimates for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 3.6% lower. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 9. This represents a premium compared to its industry's average Forward P/E of 4.82.
Meanwhile, EOG's PEG ratio is currently 0.32. 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 0.18 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 214, putting it in the bottom 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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EOG Resources (EOG) Stock Sinks As Market Gains: What You Should Know
EOG Resources (EOG - Free Report) closed at $126.85 in the latest trading session, marking a -0.6% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Heading into today, shares of the oil and gas company had gained 0.12% over the past month, lagging the Oils-Energy sector's gain of 4.41% and outpacing the S&P 500's loss of 0.23% in that time.
Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. On that day, EOG Resources is projected to report earnings of $3.58 per share, which would represent year-over-year growth of 15.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.53 billion, up 8.03% from the year-ago period.
Investors should also note any recent changes to analyst estimates for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 3.6% lower. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 9. This represents a premium compared to its industry's average Forward P/E of 4.82.
Meanwhile, EOG's PEG ratio is currently 0.32. 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 0.18 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 214, putting it in the bottom 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.