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EOG Resources (EOG - Free Report) closed at $128.96 in the latest trading session, marking a +1.25% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.63% for the day. Meanwhile, the Dow experienced a drop of 0.51%, and the technology-dominated Nasdaq saw a decrease of 0.63%.
Prior to today's trading, shares of the oil and gas company had lost 4.17% over the past month. This has lagged the Oils-Energy sector's loss of 1.37% and the S&P 500's loss of 2.35% in that time.
The investment community will be paying close attention to the earnings performance of EOG Resources in its upcoming release. The company is slated to reveal its earnings on November 2, 2023. On that day, EOG Resources is projected to report earnings of $2.87 per share, which would represent a year-over-year decline of 22.64%. Simultaneously, our latest consensus estimate expects the revenue to be $5.8 billion, showing a 23.58% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.36 per share and a revenue of $23.32 billion, indicating changes of -17.44% and -9.26%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for EOG Resources. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.59% increase. EOG Resources is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 11.21. This represents a premium compared to its industry's average Forward P/E of 9.72.
We can additionally observe that EOG currently boasts a PEG ratio of 0.39. 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. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.51.
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 15, which puts it in the top 6% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Gains As Market Dips: What You Should Know
EOG Resources (EOG - Free Report) closed at $128.96 in the latest trading session, marking a +1.25% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.63% for the day. Meanwhile, the Dow experienced a drop of 0.51%, and the technology-dominated Nasdaq saw a decrease of 0.63%.
Prior to today's trading, shares of the oil and gas company had lost 4.17% over the past month. This has lagged the Oils-Energy sector's loss of 1.37% and the S&P 500's loss of 2.35% in that time.
The investment community will be paying close attention to the earnings performance of EOG Resources in its upcoming release. The company is slated to reveal its earnings on November 2, 2023. On that day, EOG Resources is projected to report earnings of $2.87 per share, which would represent a year-over-year decline of 22.64%. Simultaneously, our latest consensus estimate expects the revenue to be $5.8 billion, showing a 23.58% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.36 per share and a revenue of $23.32 billion, indicating changes of -17.44% and -9.26%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for EOG Resources. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.59% increase. EOG Resources is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, EOG Resources currently has a Forward P/E ratio of 11.21. This represents a premium compared to its industry's average Forward P/E of 9.72.
We can additionally observe that EOG currently boasts a PEG ratio of 0.39. 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. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.51.
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 15, which puts it in the top 6% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.