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? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
EOG Resources is a member of the Oils-Energy sector. This group includes 252 individual stocks and currently holds a Zacks Sector Rank of #8. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. EOG is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for EOG's full-year earnings has moved 76.64% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, EOG has moved about 29.46% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 16.88% on average. As we can see, EOG Resources is performing better than its sector in the calendar year.
Looking more specifically, EOG belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 46 individual stocks and currently sits at #66 in the Zacks Industry Rank. On average, stocks in this group have gained 43.80% this year, meaning that EOG is slightly underperforming its industry in terms of year-to-date returns.
EOG will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.
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