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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 $105.52, marking a +0.43% move from the previous day. This move outpaced the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.03%.
Heading into today, shares of the oil and gas company had lost 26.26% over the past month, lagging the Oils-Energy sector's loss of 19.96% and the S&P 500's loss of 6.03% in that time.
Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, EOG Resources is projected to report earnings of $4.25 per share, which would represent year-over-year growth of 145.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.91 billion, up 66.95% from the year-ago period.
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 might also notice recent changes to analyst estimates for EOG Resources. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. EOG Resources is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that EOG Resources has a Forward P/E ratio of 6.17 right now. For comparison, its industry has an average Forward P/E of 4.24, which means EOG Resources is trading at a premium to the group.
We can also see that EOG currently has a PEG ratio of 0.21. 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. EOG's industry had an average PEG ratio of 0.21 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 10, putting it in the top 4% 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.
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 $105.52, marking a +0.43% move from the previous day. This move outpaced the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.03%.
Heading into today, shares of the oil and gas company had lost 26.26% over the past month, lagging the Oils-Energy sector's loss of 19.96% and the S&P 500's loss of 6.03% in that time.
Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, EOG Resources is projected to report earnings of $4.25 per share, which would represent year-over-year growth of 145.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.91 billion, up 66.95% from the year-ago period.
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 might also notice recent changes to analyst estimates for EOG Resources. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. EOG Resources is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that EOG Resources has a Forward P/E ratio of 6.17 right now. For comparison, its industry has an average Forward P/E of 4.24, which means EOG Resources is trading at a premium to the group.
We can also see that EOG currently has a PEG ratio of 0.21. 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. EOG's industry had an average PEG ratio of 0.21 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 10, putting it in the top 4% 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.
To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.