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EOG Resources (EOG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, EOG Resources (EOG - Free Report) closed at $103.70, marking a -1.72% move from the previous day. This change lagged the S&P 500's daily loss of 1.15%. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the oil and gas company had lost 26.72% in the past month. In that same time, the Oils-Energy sector lost 19.33%, while the S&P 500 lost 5.08%.
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. In that report, analysts expect EOG Resources to post earnings of $4.27 per share. This would mark year-over-year growth of 146.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.94 billion, up 67.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.04 per share and revenue of $26.44 billion, which would represent changes of +97.91% and +41.84%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for EOG Resources. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. EOG Resources is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 6.19. This represents a premium compared to its industry's average Forward P/E of 4.18.
We can also see that EOG currently has a PEG ratio of 0.21. 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 0.21 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 12, putting it in the top 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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EOG Resources (EOG) Dips More Than Broader Markets: What You Should Know
In the latest trading session, EOG Resources (EOG - Free Report) closed at $103.70, marking a -1.72% move from the previous day. This change lagged the S&P 500's daily loss of 1.15%. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the oil and gas company had lost 26.72% in the past month. In that same time, the Oils-Energy sector lost 19.33%, while the S&P 500 lost 5.08%.
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. In that report, analysts expect EOG Resources to post earnings of $4.27 per share. This would mark year-over-year growth of 146.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.94 billion, up 67.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.04 per share and revenue of $26.44 billion, which would represent changes of +97.91% and +41.84%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for EOG Resources. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. EOG Resources is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 6.19. This represents a premium compared to its industry's average Forward P/E of 4.18.
We can also see that EOG currently has a PEG ratio of 0.21. 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 0.21 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 12, putting it in the top 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.