EOG Resources, Inc. (EOG Quick QuoteEOG - Free Report) is an independent oil and gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on EOG’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that EOG Resourcescould be a solid choice for investors.

Current Quarter Estimates for EOG

In the past 30 days, 10 estimates have gone higher for EOG Resources, while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing down from a loss of 36 cents a share 30 days ago, to a loss of 23 cents per share today, a significant move.

Current Year Estimates for EOG

Meanwhile, EOG Resources’ current year figures are also looking quite promising, with 15 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing down from a loss of $1.97 cents per share 30 days ago to a loss of $1.65 cents per share today, an increase of 19.4%.  

EOG RES INC Price and Consensus

EOG RES INC Price and Consensus | EOG RES INC Quote

Bottom Line

The stock has also started to move higher lately, adding 9.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>