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EOG Resources (EOG) Stock Sinks As Market Gains: What You Should Know

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EOG Resources (EOG) closed at $103.56 in the latest trading session, marking a -1.9% move from the prior day. This move lagged the S&P 500's daily gain of 0.99%. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, lost 0.38%.

Prior to today's trading, shares of the oil and gas company had lost 4.69% over the past month. This has lagged the Oils-Energy sector's gain of 0.86% and the S&P 500's gain of 7.91% in that time.

Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. This is expected to be August 4, 2022. The company is expected to report EPS of $3.93, up 127.17% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.77 billion, up 63.57% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $16.66 per share and revenue of $26.41 billion, which would represent changes of +93.5% and +41.65%, respectively, from the prior year.

Any recent changes to analyst estimates for EOG Resources should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.24% lower. EOG Resources currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that EOG Resources has a Forward P/E ratio of 6.34 right now. Its industry sports an average Forward P/E of 4.46, so we one might conclude that EOG Resources is trading at a premium comparatively.

It is also worth noting that EOG currently has a PEG ratio of 0.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.21 based on yesterday's closing prices.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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