EOG Resources (EOG) Stock Moves -0.16%: What You Should Know
The latest trading session saw EOG Resources (EOG) ending at $129.73, denoting a -0.16% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 1.43% for the day. Meanwhile, the Dow experienced a drop of 0.32%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
Shares of the oil and gas company witnessed a gain of 2.41% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.51% and the S&P 500's loss of 1.55%.
Market participants will be closely following the financial results of EOG Resources in its upcoming release. The company plans to announce its earnings on November 2, 2023. The company is predicted to post an EPS of $2.95, indicating a 20.49% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.91 billion, reflecting a 22.18% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $11.55 per share and revenue of $23.67 billion, indicating changes of -16.06% and -7.92%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for EOG Resources. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 3.48% rise in the Zacks Consensus EPS estimate. EOG Resources currently has a Zacks Rank of #2 (Buy).
In terms of valuation, EOG Resources is presently being traded at a Forward P/E ratio of 11.25. This represents a premium compared to its industry's average Forward P/E of 9.53.
Meanwhile, EOG's PEG ratio is currently 0.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.44 as trading concluded yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 15, this industry ranks in the top 6% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.
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EOG Resources, Inc. (EOG) : Free Stock Analysis Report
