EOG Resources (EOG) Suffers a Larger Drop Than the General Market: Key Insights
In the latest market close, EOG Resources (EOG) reached $120.95, with a -0.31% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq lost 0.56%.
Prior to today's trading, shares of the oil and gas company had lost 1.41% over the past month. This has lagged the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 5.24% in that time.
The investment community will be closely monitoring the performance of EOG Resources in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $3.47, reflecting a 5.15% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $6.38 billion, indicating a 5.07% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.09 per share and revenue of $23.93 billion, which would represent changes of -12.14% and -6.91%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 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. The Zacks Consensus EPS estimate has moved 0.53% lower within the past month. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that EOG Resources has a Forward P/E ratio of 10.04 right now. Its industry sports an average Forward P/E of 8.71, so 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 0.35. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.44.
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 201, placing it within the bottom 21% of over 250 industries.
The Zacks Industry Rank is ordered 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.
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
