EOG Resources (EOG) Stock Dips While Market Gains: Key Facts
In the latest market close, EOG Resources (EOG) reached $110.37, with a -0.24% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.29%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.43%.
The oil and gas company's shares have seen a decrease of 9.51% over the last month, not keeping up with the Oils-Energy sector's loss of 5.56% and the S&P 500's gain of 2.08%.
The upcoming earnings release of EOG Resources will be of great interest to investors. The company's earnings report is expected on February 22, 2024. The company is predicted to post an EPS of $3.31, indicating a 0.3% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.32 billion, down 5.96% from the year-ago period.
Investors might also notice recent changes to analyst estimates for EOG Resources. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.86% lower. EOG Resources is currently a Zacks Rank #3 (Hold).
Looking at valuation, EOG Resources is presently trading at a Forward P/E ratio of 8.71. This expresses a premium compared to the average Forward P/E of 7.45 of its industry.
We can additionally observe that EOG currently boasts a PEG ratio of 0.3. 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 had an average PEG ratio of 0.6 as trading concluded yesterday.
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 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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EOG Resources, Inc. (EOG) : Free Stock Analysis Report
