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EOG Resources (EOG) Gains But Lags Market: What You Should Know

In the latest trading session, EOG Resources (EOG) closed at $116.25, marking a +0.09% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq lost 4.09%.

Coming into today, shares of the oil and gas company had gained 5.08% in the past month. In that same time, the Oils-Energy sector gained 2.63%, while the S&P 500 gained 3.98%.

Investors will be hoping for strength from EOG Resources as it approaches its next earnings release. In that report, analysts expect EOG Resources to post earnings of $2.65 per share. This would mark a year-over-year decline of 3.28%. Our most recent consensus estimate is calling for quarterly revenue of $5.59 billion, down 24.48% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $11.62 per share and revenue of $23.69 billion, which would represent changes of -15.55% and -7.84%, respectively, from the prior year.

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It is also important to note the recent changes to analyst estimates for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 3.42% lower. EOG Resources currently has a Zacks Rank of #3 (Hold).

Investors should also note EOG Resources's current valuation metrics, including its Forward P/E ratio of 9.99. This represents a premium compared to its industry's average Forward P/E of 7.18.

We can also see that EOG currently has a PEG ratio of 0.35. 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 currently had an average PEG ratio of 0.37 as of yesterday's close.

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 217, which puts it in the bottom 14% 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.

To follow EOG in the coming trading sessions, be sure to utilize Zacks.com.

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