EOG Resources (EOG) closed the most recent trading day at $126.08, moving +0.3% from the previous trading session. The stock trailed the S&P 500, which recorded a daily gain of 0.32%. Meanwhile, the Dow experienced an increase of 0.68%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Coming in today, shares of the oil and gas company have gained 8.03% in the past month. In that same time, the Oles-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
The investment community will be paying close attention to EOG Resources’ earnings performance in its next release. The company is scheduled to reveal its earnings on May 3, 2024. The company is expected to report EPS of $2.68, down 0.37% from the previous quarter. At the same time, our latest consensus estimate expects revenue to be $6 billion, showing a decrease of 0.79% compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest that analysts expect earnings of $11.40 per share and revenue of $24.6 billion. These totals would mark changes of -2.48% and +1.72%, respectively, from last year.
It is also important to note the recent changes to analyst ratings for EOG Resources. These revisions usually reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive rating revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these valuation revisions are directly related to near-team stock moves. To take advantage of this, we developed the Zacks Rank, a proprietary model that takes these rating changes into account and provides a reasonable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, unverified track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS- rating moved 5.32% lower in the past month. EOG Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, EOG Resources holds a Forward P/E ratio of 11.03. This indicates a premium in contrast to its industry’s Forward P/E of 10.94.
It is also worth noting that EOG currently has a PEG ratio of 0.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. Oil and Gas – Exploration and Production – US stocks, on average, hold a PEG ratio of 0.71 based on yesterday’s closing prices.
The Oil and Gas – Exploration and Production – United States industry is part of the Oil and Energy sector. Currently, this industry has a Zacks Industry Rank of 214, placing it in the bottom 16% of more than 250 industries.
The Zacks Industry Rank is ordered from best to worst based on the average Zacks Rank of the individual companies in each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to follow all of these stock movement metrics, and more, in the upcoming trading sessions.
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EOG Resources, Inc. (EOG): Free Analysis Report
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