UK markets closed
  • NIKKEI 225

    28,942.14
    -280.63 (-0.96%)
     
  • HANG SENG

    19,763.91
    -158.54 (-0.80%)
     
  • CRUDE OIL

    90.61
    +2.50 (+2.84%)
     
  • GOLD FUTURES

    1,774.10
    -2.60 (-0.15%)
     
  • DOW

    34,018.59
    +38.27 (+0.11%)
     
  • BTC-GBP

    19,610.22
    -1.87 (-0.01%)
     
  • CMC Crypto 200

    558.55
    +0.82 (+0.15%)
     
  • ^IXIC

    12,991.59
    +53.47 (+0.41%)
     
  • ^FTAS

    4,162.11
    +15.62 (+0.38%)
     

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

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

EOG Resources (EOG) closed the most recent trading day at $111.62, moving +1.07% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.06%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 0.4%.

Coming into today, shares of the oil and gas company had lost 20.8% in the past month. In that same time, the Oils-Energy sector lost 14.41%, while the S&P 500 lost 8.3%.

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 $3.67, up 112.14% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.91 billion, up 66.95% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.04 per share and revenue of $26.69 billion. These totals would mark changes of +97.91% and +43.18%, respectively, from last year.

Investors should also note any 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 1.3% higher. EOG Resources is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, EOG Resources currently has a Forward P/E ratio of 6.48. This valuation marks a premium compared to its industry's average Forward P/E of 4.14.

Also, we should mention that EOG has a PEG ratio of 0.22. 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. EOG's industry had an average PEG ratio of 0.22 as of yesterday's close.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting