EOG Resources (EOG) Dips More Than Broader Market: What You Should Know
In the latest market close, EOG Resources (EOG) reached $122.79, with a -0.81% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.65%. Meanwhile, the Dow experienced a drop of 0.49%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
The the stock of oil and gas company has risen by 8.35% in the past month, leading the Oils-Energy sector's gain of 6.72% and the S&P 500's gain of 3.27%.
Market participants will be closely following the financial results of EOG Resources in its upcoming release. On that day, EOG Resources is projected to report earnings of $2.66 per share, which would represent a year-over-year decline of 1.12%. Alongside, our most recent consensus estimate is anticipating revenue of $6.01 billion, indicating a 0.59% downward movement from the same quarter last year.
EOG's full-year Zacks Consensus Estimates are calling for earnings of $11.31 per share and revenue of $24.59 billion. These results would represent year-over-year changes of -3.25% and +1.68%, respectively.
Any recent changes to analyst estimates for EOG Resources should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.09% downward. At present, EOG Resources boasts a Zacks Rank of #4 (Sell).
Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 10.95. This signifies a premium in comparison to the average Forward P/E of 10.61 for its industry.
It is also worth noting that EOG currently has a PEG ratio of 0.38. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.7 based on yesterday's closing prices.
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 215, putting it in the bottom 15% 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, Inc. (EOG) : Free Stock Analysis Report
