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EOG Resources (EOG) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, EOG Resources (EOG - Free Report) closed at $113, marking a +1.63% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.99%.
Heading into today, shares of the oil and gas company had gained 3.63% over the past month, outpacing the Oils-Energy sector's gain of 2.62% and lagging the S&P 500's gain of 4.25% 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 3, 2023. In that report, analysts expect EOG Resources to post earnings of $2.57 per share. This would mark a year-over-year decline of 6.2%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.6 billion, down 24.4% from the year-ago period.
EOG's full-year Zacks Consensus Estimates are calling for earnings of $11.34 per share and revenue of $23.7 billion. These results would represent year-over-year changes of -17.59% and -7.79%, respectively.
Investors might also notice recent changes to analyst estimates for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.7% 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 9.8. This valuation marks a premium compared to its industry's average Forward P/E of 7.38.
Also, we should mention that EOG has a PEG ratio of 0.34. 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 0.38 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 220, which puts it in the bottom 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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EOG Resources (EOG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, EOG Resources (EOG - Free Report) closed at $113, marking a +1.63% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.99%.
Heading into today, shares of the oil and gas company had gained 3.63% over the past month, outpacing the Oils-Energy sector's gain of 2.62% and lagging the S&P 500's gain of 4.25% 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 3, 2023. In that report, analysts expect EOG Resources to post earnings of $2.57 per share. This would mark a year-over-year decline of 6.2%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.6 billion, down 24.4% from the year-ago period.
EOG's full-year Zacks Consensus Estimates are calling for earnings of $11.34 per share and revenue of $23.7 billion. These results would represent year-over-year changes of -17.59% and -7.79%, respectively.
Investors might also notice recent changes to analyst estimates for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.7% 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 9.8. This valuation marks a premium compared to its industry's average Forward P/E of 7.38.
Also, we should mention that EOG has a PEG ratio of 0.34. 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 0.38 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 220, which puts it in the bottom 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.