In the latest trading session, EOG Resources (
EOG Quick Quote EOG - Free Report) closed at $112.97, marking a +1.11% move from the previous day. This change outpaced the S&P 500's 2.11% loss on the day. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Heading into today, shares of the oil and gas company had lost 7.89% over the past month, outpacing the Oils-Energy sector's loss of 11.61% and the S&P 500's loss of 8.19% in that time.
Investors will be hoping for strength from EOG Resources as it approaches its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect EOG Resources to post earnings of $4.27 per share. This would mark year-over-year growth of 97.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.29 billion, up 53.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.58 per share and revenue of $28.14 billion, which would represent changes of +80.95% and +50.97%, 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 a result, we can interpret positive estimate revisions as a good sign for 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, 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. The Zacks Consensus EPS estimate has moved 0.34% lower 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 7.17. Its industry sports an average Forward P/E of 4.5, so we one might conclude that EOG Resources is trading at a premium comparatively.
Investors should also note that EOG has a PEG ratio of 0.24 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. 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 industry currently has a Zacks Industry Rank of 28, which puts it in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.