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3 Reasons Momentum Stock Investors Will Love EOG Resources (EOG)
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Many investors like to look for momentum in stocks, but this can be very tough to define. There is great debate regarding which metrics are the best to focus on in this regard, and which are not really quality indicators of future performance. Fortunately, with our new style score system we have identified the key statistics to pay close attention to and thus which stocks might be the best for momentum investors in the near term.
This method discovered several great candidates for momentum-oriented investors, but today let’s focus in on EOG Resources, Inc. (EOG - Free Report) as this stock is looking especially impressive right now. And while there are numerous ways in which this company could be a great choice, we have highlighted three of the most vital reasons for EOG’s status as a solid momentum stock below:
Longer Term Price Change for EOG Resources
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. That is why looking at longer term price metrics—such as performance over the past three months or year-- and comparing these to an industry at large can be very useful.
And in the case of EOG, the results are quite impressive. The company has beaten out the industry at large over the past 12 weeks by a margin of 17.5% to 11% while it has also outperformed when looking at the past year, putting up a gain of 7.5%. Clearly, EOG is riding a bit of a hot streak and is worth a closer look by investors.
In addition to price performance, it is also important to take a look at earnings estimate changes for the full year. This can show if EOG is poised to make a run based on fundamentals, or if the company is simply moving on speculation.
Over the past month, the full year earnings estimate for EOG has risen by 16.8%. On its own this is impressive, but considers that it also beats the industry average of 12.6% too. The trend is undeniably in EOG Resources’ favor right now, and it suggests that the momentum might be long lasting for this stock.
EOG Earnings Estimate Revisions Moving in the Right Direction
While the great momentum factors outlined in the preceding paragraphs might be enough for some investors, we should also take into account broad earnings estimate revision trends. A nice path here can really help to show us a promising stock, and we have actually been seeing that with EOG as of late too.
Over the past two months, six earnings estimates have gone higher compared to none lower for the full year, while we are also seeing that seven estimates have moved upwards with no downward revision for the next year time frame too. These revisions have helped to boost the consensus estimate as two months ago EOG was expected to post earnings of 81 cents per share for the full year, though today it looks to have EPS of 89 cents for the full year now, representing a solid increase which is something that should definitely be welcomed news to would-be investors.
Bottom Line
Given these factors, investors shouldn’t be surprised to note that we have EOG as a security with a Zacks Rank #1 (Strong Buy) and a Momentum Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.
So if you are looking for a fresh pick that has potential to move in the right direction, definitely keep EOG on your short list as this looks be a stock that is very well-positioned to soar in the near term.
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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3 Reasons Momentum Stock Investors Will Love EOG Resources (EOG)
Many investors like to look for momentum in stocks, but this can be very tough to define. There is great debate regarding which metrics are the best to focus on in this regard, and which are not really quality indicators of future performance. Fortunately, with our new style score system we have identified the key statistics to pay close attention to and thus which stocks might be the best for momentum investors in the near term.
This method discovered several great candidates for momentum-oriented investors, but today let’s focus in on EOG Resources, Inc. (EOG - Free Report) as this stock is looking especially impressive right now. And while there are numerous ways in which this company could be a great choice, we have highlighted three of the most vital reasons for EOG’s status as a solid momentum stock below:
Longer Term Price Change for EOG Resources
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. That is why looking at longer term price metrics—such as performance over the past three months or year-- and comparing these to an industry at large can be very useful.
And in the case of EOG, the results are quite impressive. The company has beaten out the industry at large over the past 12 weeks by a margin of 17.5% to 11% while it has also outperformed when looking at the past year, putting up a gain of 7.5%. Clearly, EOG is riding a bit of a hot streak and is worth a closer look by investors.
EOG Resources, Inc. Price
EOG Resources, Inc. Price | EOG Resources, Inc. Quote
Fiscal Year EPS Estimate Change for EOG
In addition to price performance, it is also important to take a look at earnings estimate changes for the full year. This can show if EOG is poised to make a run based on fundamentals, or if the company is simply moving on speculation.
Over the past month, the full year earnings estimate for EOG has risen by 16.8%. On its own this is impressive, but considers that it also beats the industry average of 12.6% too. The trend is undeniably in EOG Resources’ favor right now, and it suggests that the momentum might be long lasting for this stock.
EOG Earnings Estimate Revisions Moving in the Right Direction
While the great momentum factors outlined in the preceding paragraphs might be enough for some investors, we should also take into account broad earnings estimate revision trends. A nice path here can really help to show us a promising stock, and we have actually been seeing that with EOG as of late too.
Over the past two months, six earnings estimates have gone higher compared to none lower for the full year, while we are also seeing that seven estimates have moved upwards with no downward revision for the next year time frame too. These revisions have helped to boost the consensus estimate as two months ago EOG was expected to post earnings of 81 cents per share for the full year, though today it looks to have EPS of 89 cents for the full year now, representing a solid increase which is something that should definitely be welcomed news to would-be investors.
Bottom Line
Given these factors, investors shouldn’t be surprised to note that we have EOG as a security with a Zacks Rank #1 (Strong Buy) and a Momentum Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.
So if you are looking for a fresh pick that has potential to move in the right direction, definitely keep EOG on your short list as this looks be a stock that is very well-positioned to soar in the near term.
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2018 today >>