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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 $123.56, moving -0.81% from the previous trading session. This change lagged the S&P 500's 1.12% gain on the day. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Heading into today, shares of the oil and gas company had gained 9.44% over the past month, outpacing the Oils-Energy sector's gain of 5.27% and the S&P 500's gain of 4.63% in that time.
Investors will be hoping for strength from EOG Resources as it approaches its next earnings release, which is expected to be May 5, 2022. The company is expected to report EPS of $3.23, up 99.38% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.6 billion, up 51.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.98 per share and revenue of $23.21 billion. These totals would mark changes of +62.37% and +24.5%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for EOG Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 16.16% higher. EOG Resources currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 8.91. This valuation marks a premium compared to its industry's average Forward P/E of 6.39.
Investors should also note that EOG has a PEG ratio of 0.31 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 0.28 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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EOG Resources (EOG) Stock Sinks As Market Gains: What You Should Know
EOG Resources (EOG - Free Report) closed the most recent trading day at $123.56, moving -0.81% from the previous trading session. This change lagged the S&P 500's 1.12% gain on the day. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Heading into today, shares of the oil and gas company had gained 9.44% over the past month, outpacing the Oils-Energy sector's gain of 5.27% and the S&P 500's gain of 4.63% in that time.
Investors will be hoping for strength from EOG Resources as it approaches its next earnings release, which is expected to be May 5, 2022. The company is expected to report EPS of $3.23, up 99.38% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.6 billion, up 51.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.98 per share and revenue of $23.21 billion. These totals would mark changes of +62.37% and +24.5%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for EOG Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 16.16% higher. EOG Resources currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 8.91. This valuation marks a premium compared to its industry's average Forward P/E of 6.39.
Investors should also note that EOG has a PEG ratio of 0.31 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 0.28 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.