In the latest trading session, EOG Resources (EOG - Free Report) closed at $121.68, marking a +1.09% move from the previous day. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.92%.
Coming into today, shares of the oil and gas company had gained 10.33% in the past month. In that same time, the Oils-Energy sector gained 2.17%, while the S&P 500 gained 6.51%.
EOG Resources will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. In that report, analysts expect EOG Resources to post earnings of $2.59 per share. This would mark a year-over-year decline of 35.25%. Meanwhile, our latest consensus estimate is calling for revenue of $5.69 billion, up 42.97% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.98 per share and revenue of $24.32 billion, which would represent changes of -12.94% and -5.36%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EOG Resources. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 4.75% lower within the past month. EOG Resources is currently a Zacks Rank #3 (Hold).
Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 10.05. For comparison, its industry has an average Forward P/E of 6.71, which means EOG Resources is trading at a premium to the group.
Investors should also note that EOG has a PEG ratio of 0.35 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
In the latest trading session, EOG Resources (EOG - Free Report) closed at $121.68, marking a +1.09% move from the previous day. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.92%.
Coming into today, shares of the oil and gas company had gained 10.33% in the past month. In that same time, the Oils-Energy sector gained 2.17%, while the S&P 500 gained 6.51%.
EOG Resources will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. In that report, analysts expect EOG Resources to post earnings of $2.59 per share. This would mark a year-over-year decline of 35.25%. Meanwhile, our latest consensus estimate is calling for revenue of $5.69 billion, up 42.97% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.98 per share and revenue of $24.32 billion, which would represent changes of -12.94% and -5.36%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EOG Resources. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 4.75% lower within the past month. EOG Resources is currently a Zacks Rank #3 (Hold).
Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 10.05. For comparison, its industry has an average Forward P/E of 6.71, which means EOG Resources is trading at a premium to the group.
Investors should also note that EOG has a PEG ratio of 0.35 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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