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

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EOG Resources (EOG) closed the most recent trading day at $102.31, moving +1.67% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.16%.

Coming into today, shares of the oil and gas company had gained 15.43% in the past month. In that same time, the Oils-Energy sector gained 9%, while the S&P 500 lost 5.39%.

Investors will be hoping for strength from EOG Resources as it approaches its next earnings release, which is expected to be February 24, 2022. The company is expected to report EPS of $3.22, up 353.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.92 billion, up 99.54% from the year-ago period.

Investors should also note any recent changes to analyst estimates for EOG Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.55% 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 9.82. This valuation marks a premium compared to its industry's average Forward P/E of 5.48.

It is also worth noting that EOG currently has a PEG ratio of 0.48. 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. EOG's industry had an average PEG ratio of 0.27 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 78, which puts it in the top 31% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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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