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EOG Resources (EOG) Advances While Market Declines: Some Information for Investors
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The latest trading session saw EOG Resources (EOG - Free Report) ending at $132.24, denoting a +1.91% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 1%, while the tech-heavy Nasdaq lost 0.95%.
Heading into today, shares of the oil and gas company had gained 12.03% over the past month, outpacing the Oils-Energy sector's gain of 6.92% and the S&P 500's gain of 2.16% 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 May 2, 2024. It is anticipated that the company will report an EPS of $2.64, marking a 1.86% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.98 billion, showing a 1.05% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.45 per share and a revenue of $24.55 billion, indicating changes of -2.05% and +1.52%, respectively, from the former 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has moved 0.25% lower. EOG Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 11.33. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 11.33.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 212, finds itself in the bottom 16% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.
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EOG Resources (EOG) Advances While Market Declines: Some Information for Investors
The latest trading session saw EOG Resources (EOG - Free Report) ending at $132.24, denoting a +1.91% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 1%, while the tech-heavy Nasdaq lost 0.95%.
Heading into today, shares of the oil and gas company had gained 12.03% over the past month, outpacing the Oils-Energy sector's gain of 6.92% and the S&P 500's gain of 2.16% 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 May 2, 2024. It is anticipated that the company will report an EPS of $2.64, marking a 1.86% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.98 billion, showing a 1.05% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.45 per share and a revenue of $24.55 billion, indicating changes of -2.05% and +1.52%, respectively, from the former 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has moved 0.25% lower. EOG Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 11.33. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 11.33.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 212, finds itself in the bottom 16% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.