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EOG Resources (EOG) Ascends But Remains Behind Market: Some Facts to Note
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EOG Resources (EOG - Free Report) closed the most recent trading day at $126.08, moving +0.3% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.68%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Coming into today, shares of the oil and gas company had gained 8.03% in the past month. In that same time, the Oils-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
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 May 3, 2024. The company is expected to report EPS of $2.68, down 0.37% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $6 billion, showing a 0.79% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.40 per share and revenue of $24.6 billion. These totals would mark changes of -2.48% and +1.72%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.32% lower within the past month. EOG Resources presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 11.03. This indicates a premium in contrast to its industry's Forward P/E of 10.94.
It is also worth noting that EOG currently has a PEG ratio of 0.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.71 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 214, placing it within the bottom 16% of over 250 industries.
The Zacks Industry Rank is ordered 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) Ascends But Remains Behind Market: Some Facts to Note
EOG Resources (EOG - Free Report) closed the most recent trading day at $126.08, moving +0.3% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.68%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Coming into today, shares of the oil and gas company had gained 8.03% in the past month. In that same time, the Oils-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
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 May 3, 2024. The company is expected to report EPS of $2.68, down 0.37% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $6 billion, showing a 0.79% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.40 per share and revenue of $24.6 billion. These totals would mark changes of -2.48% and +1.72%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.32% lower within the past month. EOG Resources presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 11.03. This indicates a premium in contrast to its industry's Forward P/E of 10.94.
It is also worth noting that EOG currently has a PEG ratio of 0.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.71 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 214, placing it within the bottom 16% of over 250 industries.
The Zacks Industry Rank is ordered 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.