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EOG Resources (EOG) closed at $105.13 in the latest trading session, marking a -0.51% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.97%. Elsewhere, the Dow lost 0.96%, while the tech-heavy Nasdaq added 0.23%.
Prior to today's trading, shares of the oil and gas company had gained 22.37% over the past month. This has outpaced the Oils-Energy sector's gain of 14.52% and the S&P 500's loss of 0.78% in that time.
EOG Resources will be looking to display strength as it nears 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, our latest consensus estimate is calling for revenue of $5.92 billion, up 99.54% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for EOG Resources. These revisions help to show the ever-changing nature of near-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. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% higher. EOG Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 10.31. For comparison, its industry has an average Forward P/E of 6.23, which means EOG Resources is trading at a premium to the group.
Investors should also note that EOG has a PEG ratio of 0.5 right now. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.29 based on yesterday's closing prices.
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 181, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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