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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 $115.66, marking a -0.87% move from the previous day. This change lagged the S&P 500's 0.38% loss on the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Coming into today, shares of the oil and gas company had gained 5.67% in the past month. In that same time, the Oils-Energy sector gained 7.91%, while the S&P 500 gained 2.61%.
Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. This is expected to be May 4, 2023. In that report, analysts expect EOG Resources to post earnings of $2.42 per share. This would mark a year-over-year decline of 39.5%. Our most recent consensus estimate is calling for quarterly revenue of $5.53 billion, up 38.86% from the year-ago period.
EOG's full-year Zacks Consensus Estimates are calling for earnings of $11.70 per share and revenue of $23.9 billion. These results would represent year-over-year changes of -14.97% and -7.03%, respectively.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.7% lower within the past month. EOG Resources currently has a Zacks Rank of #3 (Hold).
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 9.97. Its industry sports an average Forward P/E of 6.64, so we one might conclude that EOG Resources is trading at a premium comparatively.
Meanwhile, EOG's PEG ratio is currently 0.35. 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 0.35 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 217, which puts it in the bottom 14% 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.
You can find more information on all of these metrics, and much 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 $115.66, marking a -0.87% move from the previous day. This change lagged the S&P 500's 0.38% loss on the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Coming into today, shares of the oil and gas company had gained 5.67% in the past month. In that same time, the Oils-Energy sector gained 7.91%, while the S&P 500 gained 2.61%.
Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. This is expected to be May 4, 2023. In that report, analysts expect EOG Resources to post earnings of $2.42 per share. This would mark a year-over-year decline of 39.5%. Our most recent consensus estimate is calling for quarterly revenue of $5.53 billion, up 38.86% from the year-ago period.
EOG's full-year Zacks Consensus Estimates are calling for earnings of $11.70 per share and revenue of $23.9 billion. These results would represent year-over-year changes of -14.97% and -7.03%, respectively.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.7% lower within the past month. EOG Resources currently has a Zacks Rank of #3 (Hold).
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 9.97. Its industry sports an average Forward P/E of 6.64, so we one might conclude that EOG Resources is trading at a premium comparatively.
Meanwhile, EOG's PEG ratio is currently 0.35. 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 0.35 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 217, which puts it in the bottom 14% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.