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EOG Resources (EOG) Outpaces Stock Market Gains: What You Should Know
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EOG Resources (EOG - Free Report) closed the most recent trading day at $114.44, moving +1.27% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.23%. At the same time, the Dow added 0.84%, and the tech-heavy Nasdaq lost 2.24%.
Prior to today's trading, shares of the oil and gas company had gained 4.48% over the past month. This has outpaced the Oils-Energy sector's gain of 3.61% and lagged the S&P 500's gain of 4.67% in that time.
Investors will be hoping for strength from EOG Resources as it approaches its next earnings release, which is expected to be August 3, 2023. The company is expected to report EPS of $2.57, down 6.2% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.6 billion, down 24.4% from the year-ago period.
EOG's full-year Zacks Consensus Estimates are calling for earnings of $11.34 per share and revenue of $23.7 billion. These results would represent year-over-year changes of -17.59% and -7.79%, respectively.
Any recent changes to analyst estimates for EOG Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 2.7% lower within the past month. EOG Resources currently has a Zacks Rank of #3 (Hold).
Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 9.96. This valuation marks a premium compared to its industry's average Forward P/E of 7.53.
It is also worth noting that EOG currently has a PEG ratio of 0.35. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.38 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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EOG Resources (EOG) Outpaces Stock Market Gains: What You Should Know
EOG Resources (EOG - Free Report) closed the most recent trading day at $114.44, moving +1.27% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.23%. At the same time, the Dow added 0.84%, and the tech-heavy Nasdaq lost 2.24%.
Prior to today's trading, shares of the oil and gas company had gained 4.48% over the past month. This has outpaced the Oils-Energy sector's gain of 3.61% and lagged the S&P 500's gain of 4.67% in that time.
Investors will be hoping for strength from EOG Resources as it approaches its next earnings release, which is expected to be August 3, 2023. The company is expected to report EPS of $2.57, down 6.2% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.6 billion, down 24.4% from the year-ago period.
EOG's full-year Zacks Consensus Estimates are calling for earnings of $11.34 per share and revenue of $23.7 billion. These results would represent year-over-year changes of -17.59% and -7.79%, respectively.
Any recent changes to analyst estimates for EOG Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 2.7% lower within the past month. EOG Resources currently has a Zacks Rank of #3 (Hold).
Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 9.96. This valuation marks a premium compared to its industry's average Forward P/E of 7.53.
It is also worth noting that EOG currently has a PEG ratio of 0.35. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.38 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.