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EOG Resources (EOG) Beats Stock Market Upswing: What Investors Need to Know
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EOG Resources (EOG - Free Report) ended the recent trading session at $120.68, demonstrating a +1.87% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
Prior to today's trading, shares of the oil and gas company had lost 9.95% over the past month. This has lagged the Oils-Energy sector's loss of 5.46% and the S&P 500's loss of 5.17% in that time.
Market participants will be closely following the financial results of EOG Resources in its upcoming release. The company plans to announce its earnings on November 2, 2023. The company is forecasted to report an EPS of $2.87, showcasing a 22.64% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.8 billion, indicating a 23.58% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.34 per share and revenue of $23.32 billion. These totals would mark changes of -17.59% and -9.26%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for EOG Resources. Such recent modifications usually signify the changing landscape 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.35% increase. 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 10.45. This represents a premium compared to its industry's average Forward P/E of 8.76.
We can additionally observe that EOG currently boasts a PEG ratio of 0.36. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.47 as trading concluded yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 41, this industry ranks in the top 17% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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) Beats Stock Market Upswing: What Investors Need to Know
EOG Resources (EOG - Free Report) ended the recent trading session at $120.68, demonstrating a +1.87% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
Prior to today's trading, shares of the oil and gas company had lost 9.95% over the past month. This has lagged the Oils-Energy sector's loss of 5.46% and the S&P 500's loss of 5.17% in that time.
Market participants will be closely following the financial results of EOG Resources in its upcoming release. The company plans to announce its earnings on November 2, 2023. The company is forecasted to report an EPS of $2.87, showcasing a 22.64% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.8 billion, indicating a 23.58% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.34 per share and revenue of $23.32 billion. These totals would mark changes of -17.59% and -9.26%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for EOG Resources. Such recent modifications usually signify the changing landscape 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.35% increase. 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 10.45. This represents a premium compared to its industry's average Forward P/E of 8.76.
We can additionally observe that EOG currently boasts a PEG ratio of 0.36. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.47 as trading concluded yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 41, this industry ranks in the top 17% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.