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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 $127.53, marking a +1.15% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.37%.
Heading into today, shares of the oil and gas company had gained 7.6% over the past month, outpacing the Oils-Energy sector's of 0% and the S&P 500's loss of 3.51% 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 November 3, 2022. In that report, analysts expect EOG Resources to post earnings of $4.28 per share. This would mark year-over-year growth of 98.15%. Our most recent consensus estimate is calling for quarterly revenue of $7.31 billion, up 53.4% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.58 per share and revenue of $28.11 billion. These totals would mark changes of +80.95% and +50.8%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for EOG Resources. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 1.29% lower. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, EOG Resources is currently trading at a Forward P/E ratio of 8.09. For comparison, its industry has an average Forward P/E of 5.05, which means EOG Resources is trading at a premium to the group.
Meanwhile, EOG's PEG ratio is currently 0.27. 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 0.23 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 22, putting it in the top 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $127.53, marking a +1.15% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.37%.
Heading into today, shares of the oil and gas company had gained 7.6% over the past month, outpacing the Oils-Energy sector's of 0% and the S&P 500's loss of 3.51% 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 November 3, 2022. In that report, analysts expect EOG Resources to post earnings of $4.28 per share. This would mark year-over-year growth of 98.15%. Our most recent consensus estimate is calling for quarterly revenue of $7.31 billion, up 53.4% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.58 per share and revenue of $28.11 billion. These totals would mark changes of +80.95% and +50.8%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for EOG Resources. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 1.29% lower. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, EOG Resources is currently trading at a Forward P/E ratio of 8.09. For comparison, its industry has an average Forward P/E of 5.05, which means EOG Resources is trading at a premium to the group.
Meanwhile, EOG's PEG ratio is currently 0.27. 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 0.23 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 22, putting it in the top 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.