EOG Resources (EOG) Registers a Bigger Fall Than the Market: Important Facts to Note
EOG Resources (EOG) closed the most recent trading day at $110.63, moving -1.35% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.56%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.59%.
The the stock of oil and gas company has fallen by 8.48% in the past month, lagging the Oils-Energy sector's loss of 2.83% and the S&P 500's gain of 1.2%.
Analysts and investors alike will be keeping a close eye on the performance of EOG Resources in its upcoming earnings disclosure. The company's earnings report is set to go public on February 22, 2024. On that day, EOG Resources is projected to report earnings of $3.33 per share, which would represent year-over-year growth of 0.91%. Simultaneously, our latest consensus estimate expects the revenue to be $6.34 billion, showing a 5.63% drop compared to the year-ago quarter.
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. 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. Within the past 30 days, our consensus EPS projection has moved 5.8% lower. As of now, EOG Resources holds a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 8.78. Its industry sports an average Forward P/E of 7.39, so one might conclude that EOG Resources is trading at a premium comparatively.
We can also see that EOG currently has a PEG ratio of 0.31. 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 industry currently had an average PEG ratio of 0.59 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 251, placing it within the bottom 1% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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EOG Resources, Inc. (EOG) : Free Stock Analysis Report
