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EOG Resources (EOG) Stock Sinks As Market Gains: What You Should Know

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EOG Resources (EOG - Free Report) closed the most recent trading day at $120.83, moving -1.33% from the previous trading session. This change lagged the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.91%.

Coming into today, shares of the oil and gas company had gained 9.71% in the past month. In that same time, the Oils-Energy sector gained 8.56%, while the S&P 500 gained 2.65%.

EOG Resources will be looking to display strength as it nears its next earnings release. On that day, EOG Resources is projected to report earnings of $2.92 per share, which would represent year-over-year growth of 80.25%. Our most recent consensus estimate is calling for quarterly revenue of $5.41 billion, up 46.39% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.02 per share and revenue of $21.82 billion. These totals would mark changes of +39.61% and +17.02%, respectively, from last year.

Any recent changes to analyst estimates for EOG Resources should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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 4.57% higher within the past month. EOG Resources is currently sporting a Zacks Rank of #2 (Buy).

Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 10.19. 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.

We can also see that EOG currently has a PEG ratio of 0.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.32 as of yesterday's close.

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 67, which puts it in the top 27% 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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