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Here's Why EOG Resources (EOG) Gained But Lagged the Market Today
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EOG Resources (EOG - Free Report) closed the most recent trading day at $112.52, moving +0.57% from the previous trading session. This change lagged the S&P 500's 0.82% gain on the day. Meanwhile, the Dow experienced a rise of 0.41%, and the technology-dominated Nasdaq saw an increase of 0.95%.
Shares of the oil and gas company have depreciated by 3.61% over the course of the past month, underperforming the Oils-Energy sector's loss of 1.15% and the S&P 500's gain of 5.59%.
The investment community will be paying close attention to the earnings performance of EOG Resources in its upcoming release. The company is slated to reveal its earnings on February 22, 2024. The company is predicted to post an EPS of $3.19, indicating a 3.33% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $6.22 billion, indicating a 7.36% downward movement from the same quarter last year.
It is also important to note the recent changes 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, there's been a 5.83% fall in the Zacks Consensus EPS estimate. Right now, EOG Resources possesses a Zacks Rank of #4 (Sell).
With respect to valuation, EOG Resources is currently being traded at a Forward P/E ratio of 9.29. This valuation marks a premium compared to its industry's average Forward P/E of 8.06.
We can additionally observe that EOG currently boasts a PEG ratio of 0.32. 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 0.66 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 247, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Here's Why EOG Resources (EOG) Gained But Lagged the Market Today
EOG Resources (EOG - Free Report) closed the most recent trading day at $112.52, moving +0.57% from the previous trading session. This change lagged the S&P 500's 0.82% gain on the day. Meanwhile, the Dow experienced a rise of 0.41%, and the technology-dominated Nasdaq saw an increase of 0.95%.
Shares of the oil and gas company have depreciated by 3.61% over the course of the past month, underperforming the Oils-Energy sector's loss of 1.15% and the S&P 500's gain of 5.59%.
The investment community will be paying close attention to the earnings performance of EOG Resources in its upcoming release. The company is slated to reveal its earnings on February 22, 2024. The company is predicted to post an EPS of $3.19, indicating a 3.33% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $6.22 billion, indicating a 7.36% downward movement from the same quarter last year.
It is also important to note the recent changes 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, there's been a 5.83% fall in the Zacks Consensus EPS estimate. Right now, EOG Resources possesses a Zacks Rank of #4 (Sell).
With respect to valuation, EOG Resources is currently being traded at a Forward P/E ratio of 9.29. This valuation marks a premium compared to its industry's average Forward P/E of 8.06.
We can additionally observe that EOG currently boasts a PEG ratio of 0.32. 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 0.66 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 247, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.