Has EOG Resources (EOG) Outpaced Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is EOG Resources (EOG) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
EOG Resources is one of 255 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. EOG is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for EOG's full-year earnings has moved 14.85% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, EOG has moved about 82.27% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 37.06% on average. This means that EOG Resources is outperforming the sector as a whole this year.
Looking more specifically, EOG belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 43 individual stocks and currently sits at #6 in the Zacks Industry Rank. This group has gained an average of 112.44% so far this year, so EOG is slightly underperforming its industry in this area.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to EOG as it looks to continue its solid performance.
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.
