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EOG Resources (EOG) Gains As Market Dips: What You Should Know
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In the latest trading session, EOG Resources (EOG - Free Report) closed at $122.69, marking a +0.76% move from the previous day. This change outpaced the S&P 500's 0.06% loss on the day. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.64%.
Heading into today, shares of the oil and gas company had gained 0.77% over the past month, lagging the Oils-Energy sector's gain of 8.86% and outpacing the S&P 500's gain of 0.17% 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. In that report, analysts expect EOG Resources to post earnings of $3.23 per share. This would mark year-over-year growth of 99.38%. Meanwhile, our latest consensus estimate is calling for revenue of $5.6 billion, up 51.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.98 per share and revenue of $23.21 billion, which would represent changes of +62.37% and +24.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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. The Zacks Consensus EPS estimate has moved 16.31% higher within the past month. EOG Resources currently has a Zacks Rank of #2 (Buy).
Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 8.71. For comparison, its industry has an average Forward P/E of 6.75, which means EOG Resources is trading at a premium to the group.
It is also worth noting that EOG currently has a PEG ratio of 0.3. 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 0.29 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 13, which puts it in the top 6% 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.
To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.
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EOG Resources (EOG) Gains As Market Dips: What You Should Know
In the latest trading session, EOG Resources (EOG - Free Report) closed at $122.69, marking a +0.76% move from the previous day. This change outpaced the S&P 500's 0.06% loss on the day. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.64%.
Heading into today, shares of the oil and gas company had gained 0.77% over the past month, lagging the Oils-Energy sector's gain of 8.86% and outpacing the S&P 500's gain of 0.17% 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. In that report, analysts expect EOG Resources to post earnings of $3.23 per share. This would mark year-over-year growth of 99.38%. Meanwhile, our latest consensus estimate is calling for revenue of $5.6 billion, up 51.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.98 per share and revenue of $23.21 billion, which would represent changes of +62.37% and +24.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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. The Zacks Consensus EPS estimate has moved 16.31% higher within the past month. EOG Resources currently has a Zacks Rank of #2 (Buy).
Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 8.71. For comparison, its industry has an average Forward P/E of 6.75, which means EOG Resources is trading at a premium to the group.
It is also worth noting that EOG currently has a PEG ratio of 0.3. 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 0.29 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 13, which puts it in the top 6% 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.
To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.