EOG Resources (EOG) Stock Moves -0.01%: What You Should Know
In the latest trading session, EOG Resources (EOG) closed at $114.98, marking a -0.01% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.07% for the day.
The oil and gas company's stock has dropped by 2.95% in the past month, falling short of the Oils-Energy sector's gain of 0.36% and the S&P 500's gain of 3.98%.
The investment community will be paying close attention to the earnings performance of EOG Resources in its upcoming release. The company is slated to reveal its earnings on February 22, 2024. It is anticipated that the company will report an EPS of $3.33, marking a 0.91% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.34 billion, down 5.63% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.67% lower. Right now, EOG Resources possesses a Zacks Rank of #3 (Hold).
In the context of valuation, EOG Resources is at present trading with a Forward P/E ratio of 8.99. This expresses a premium compared to the average Forward P/E of 7.6 of its industry.
Also, we should mention that EOG has a PEG ratio of 0.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.6.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 248, this industry ranks in the bottom 2% of all industries, numbering over 250.
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.
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
