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EOG Resources (EOG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, EOG Resources (EOG - Free Report) closed at $129.47, marking a -0.26% move from the previous day. This move lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 0.83%.
Heading into today, shares of the oil and gas company had gained 1.6% over the past month, lagging the Oils-Energy sector's gain of 5.29% and outpacing the S&P 500's loss of 2.84% 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 2, 2023. On that day, EOG Resources is projected to report earnings of $2.78 per share, which would represent a year-over-year decline of 25.07%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.76 billion, down 24.12% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.08 per share and revenue of $23.2 billion. These totals would mark changes of -19.48% and -9.74%, respectively, from last year.
It is also important to note the 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. 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 0.02% higher. EOG Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 11.72. This valuation marks a premium compared to its industry's average Forward P/E of 9.74.
Also, we should mention that EOG has a PEG ratio of 0.41. 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 0.5 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 98, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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EOG Resources (EOG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, EOG Resources (EOG - Free Report) closed at $129.47, marking a -0.26% move from the previous day. This move lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 0.83%.
Heading into today, shares of the oil and gas company had gained 1.6% over the past month, lagging the Oils-Energy sector's gain of 5.29% and outpacing the S&P 500's loss of 2.84% 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 2, 2023. On that day, EOG Resources is projected to report earnings of $2.78 per share, which would represent a year-over-year decline of 25.07%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.76 billion, down 24.12% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.08 per share and revenue of $23.2 billion. These totals would mark changes of -19.48% and -9.74%, respectively, from last year.
It is also important to note the 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. 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 0.02% higher. EOG Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 11.72. This valuation marks a premium compared to its industry's average Forward P/E of 9.74.
Also, we should mention that EOG has a PEG ratio of 0.41. 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 0.5 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 98, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.