In the latest trading session, EOG Resources (EOG) closed at $118.35, marking a +0.09% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Coming into today, shares of the oil and gas company had lost 4.57% in the past month. In that same time, the Oils-Energy sector lost 4.09%, while the S&P 500 lost 10.24%.
Investors will be hoping for strength from EOG Resources as it approaches its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect EOG Resources to post earnings of $4.27 per share. This would mark year-over-year growth of 97.69%. Meanwhile, our latest consensus estimate is calling for revenue of $7.29 billion, up 53.01% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.61 per share and revenue of $28.14 billion. These totals would mark changes of +81.3% and +50.97%, 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 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% higher. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that EOG Resources has a Forward P/E ratio of 7.58 right now. This represents a premium compared to its industry's average Forward P/E of 4.9.
Meanwhile, EOG's PEG ratio is currently 0.25. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.22 at yesterday's closing price.
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 42, putting it in the top 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research