EOG Resources, Inc. (NYSE: EOG) – Not A Clear Buying Opportunity?

EOG Resources, Inc. (EOG) concluded trading on Wednesday at a closing price of $133.78, with 3.49 million shares of worth about $466.3 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.57% during that period and on April 3, 2024 the price saw a gain of about 1.16%. Currently the company’s common shares owned by public are about 580.86M shares, out of which, 578.59M shares are available for trading.

However, the stock later moved at a day high price of 121.89, or with a gain of 1.16%. Stock saw a price change of 6.36% in past 5 days and over the past one month there was a price change of 15.50%. Year-to-date (YTD), EOG shares are showing a performance of 10.61% which increased to 18.20% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $104.97 but also hit the highest price of $135.06 during that period. The average intraday trading volume for EOG Resources, Inc. shares is 3.50 million. The stock is currently trading 8.14% above its 20-day simple moving average (SMA20), while that difference is up 13.92% for SMA50 and it goes to 10.28% higher than SMA200.

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EOG Resources, Inc. (NYSE: EOG) currently have 580.86M outstanding shares and institutions hold larger chunk of about 92.04% of that.

The stock has a current market capitalization of $77.59B and its 3Y-monthly beta is at 1.40. PE ratio of stock for trailing 12 months is 10.28, while it has posted earnings per share of $13.01 in the same period. Its PEG reads 0.19 and has Quick Ratio of 2.13 while making debt-to-equity ratio of 0.17. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EOG, volatility over the week remained 1.62% while standing at 1.60% over the month.

Stock’s fiscal year EPS is expected to drop by -1.64% while it is estimated to increase by 4.38% in next year. EPS is likely to grow at an annualized rate of 54.90% for next 5-years, compared to annual growth of 17.16% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on January 05, 2024 offering a Neutral rating for the stock and assigned a target price range of between $147 and $140 to it. Coverage by Wells Fargo stated EOG Resources, Inc. (EOG) stock as an Equal weight in their note to investors on December 14, 2023, suggesting a price target of $130 for the stock. On December 11, 2023, Morgan Stanley Downgrade their recommendations, while on December 06, 2023, JP Morgan Downgrade their ratings for the stock with a price target of $150. Stock get a Neutral rating from Citigroup on October 23, 2023.

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