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EOG Resources (EOG) Gains As Market Dips: What You Should Know
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EOG Resources (EOG - Free Report) closed at $144 in the latest trading session, marking a +1.06% move from the prior day. This change outpaced the S&P 500's 2.91% loss on the day. Elsewhere, the Dow lost 2.73%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the oil and gas company had gained 18.24% over the past month. This has outpaced the Oils-Energy sector's gain of 16.13% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from EOG Resources as it approaches its next earnings release. The company is expected to report EPS of $4.25, up 145.66% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.91 billion, up 66.95% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.04 per share and revenue of $26.69 billion. These totals would mark changes of +97.91% and +43.18%, respectively, from last year.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 4.17% higher within the past month. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 8.36. Its industry sports an average Forward P/E of 5.96, so we one might conclude that EOG Resources is trading at a premium comparatively.
Meanwhile, EOG's PEG ratio is currently 0.28. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. EOG's industry had an average PEG ratio of 0.28 as of yesterday's close.
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 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.
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EOG Resources (EOG) Gains As Market Dips: What You Should Know
EOG Resources (EOG - Free Report) closed at $144 in the latest trading session, marking a +1.06% move from the prior day. This change outpaced the S&P 500's 2.91% loss on the day. Elsewhere, the Dow lost 2.73%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the oil and gas company had gained 18.24% over the past month. This has outpaced the Oils-Energy sector's gain of 16.13% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from EOG Resources as it approaches its next earnings release. The company is expected to report EPS of $4.25, up 145.66% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.91 billion, up 66.95% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.04 per share and revenue of $26.69 billion. These totals would mark changes of +97.91% and +43.18%, respectively, from last year.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 4.17% higher within the past month. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 8.36. Its industry sports an average Forward P/E of 5.96, so we one might conclude that EOG Resources is trading at a premium comparatively.
Meanwhile, EOG's PEG ratio is currently 0.28. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. EOG's industry had an average PEG ratio of 0.28 as of yesterday's close.
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 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.