Price Don’t Lie: What Next for EOG Resources Inc Stock After Touching 52-Week High?

Price Don't Lie: What Next for EOG Resources Inc Stock After Touching 52 Week High?

The stock of EOG Resources Inc (NYSE:EOG) hit a new 52-week high and has $102.74 target or 3.00% above today’s $99.75 share price. The 8 months bullish chart indicates low risk for the $56.87B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $102.74 price target is reached, the company will be worth $1.71 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.41 million shares traded hands. EOG Resources Inc (NYSE:EOG) has risen 9.38% since April 27, 2016 and is uptrending. It has outperformed by 4.16% the S&P500.

Analysts await EOG Resources Inc (NYSE:EOG) to report earnings on February, 23. They expect $-0.15 EPS, up 44.44% or $0.12 from last year’s $-0.27 per share. After $-0.40 actual EPS reported by EOG Resources Inc for the previous quarter, Wall Street now forecasts -62.50% EPS growth.

EOG Resources Inc (NYSE:EOG) Ratings Coverage

Out of 27 analysts covering EOG Resources (NYSE:EOG), 17 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 63% are positive. $112 is the highest target while $61 is the lowest. The $93.53 average target is -6.24% below today’s ($99.75) stock price. EOG Resources has been the topic of 57 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating by CLSA given on Monday, August 10. The firm has “Neutral” rating by Credit Suisse given on Tuesday, September 8. The rating was maintained by S&P Research on Monday, August 10 with “Buy”. The firm has “Hold” rating given on Monday, October 3 by Societe Generale. The rating was initiated by Cowen & Co on Wednesday, March 30 with “Market Perform”. The rating was maintained by Barclays Capital with “Overweight” on Thursday, September 1. The firm earned “Hold” rating on Wednesday, September 7 by Jefferies. RBC Capital Markets maintained the shares of EOG in a report on Tuesday, November 8 with “Sector Perform” rating. The firm has “Outperform” rating by RBC Capital Markets given on Monday, November 9. The rating was downgraded by Tudor Pickering to “Buy” on Friday, July 15.

According to Zacks Investment Research, “EOG Resources, Inc. is engaged, either directly or through a marketing subsidiary with regard to domestic operations or through various subsidiaries with regard to international operations, in the exploration for, and the development, production and marketing of, natural gas and crude oil primarily in major producing basins in the United States, as well as in Canada and Trinidad. The company’s business strategy is to maximize the rate of return on investment of capital by controlling all operating and capital costs.”

Insitutional Activity: The institutional sentiment increased to 1.06 in Q2 2016. Its up 0.17, from 0.89 in 2016Q1. The ratio improved, as 66 funds sold all EOG Resources Inc shares owned while 316 reduced positions. 71 funds bought stakes while 268 increased positions. They now own 484.89 million shares or 3.64% less from 503.18 million shares in 2016Q1.
Shinko Asset Mgmt Ltd holds 1,438 shares or 0% of its portfolio. Jennison Assoc Ltd Limited Liability Company has invested 0.23% of its portfolio in EOG Resources Inc (NYSE:EOG). Delta Cap Mngmt Limited Co last reported 0.29% of its portfolio in the stock. Benjamin F Edwards Com Incorporated holds 135 shares or 0% of its portfolio. The Texas-based Wfg Advisors Lp has invested 0.05% in EOG Resources Inc (NYSE:EOG). Advisory Llc owns 2,623 shares or 0.05% of their US portfolio. D E Shaw & owns 280,257 shares or 0.04% of their US portfolio. Seaward Ltd Partnership last reported 99,036 shares in the company. Janus Cap Mngmt Ltd Co last reported 0.01% of its portfolio in the stock. The Ohio-based Private Tru Na has invested 0.2% in EOG Resources Inc (NYSE:EOG). Capital Rech Glob Invsts reported 43.15 million shares or 1.23% of all its holdings. Moreover, West Oak Capital Ltd Limited Liability Company has 0% invested in EOG Resources Inc (NYSE:EOG) for 452 shares. Strs Ohio, a Ohio-based fund reported 342,402 shares. Ci Invests Inc, a Ontario – Canada-based fund reported 958,650 shares. Deere & owns 38,487 shares or 0.17% of their US portfolio.

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 15 insider sales for $7.33 million net activity. Janssen Ann D. also sold $123,314 worth of EOG Resources Inc (NYSE:EOG) on Wednesday, September 21. $252,069 worth of shares were sold by WISNER FRANK G on Wednesday, November 16. On Monday, November 14 the insider CRISP CHARLES R sold $1.30 million. The insider Trice David W sold 4,600 shares worth $446,591. Thomas William R. sold $1.54 million worth of stock or 16,581 shares. 4,875 shares with value of $398,891 were sold by Helms Lloyd W Jr on Friday, July 8. $818,788 worth of EOG Resources Inc (NYSE:EOG) was sold by DRIGGERS TIMOTHY K.

More recent EOG Resources Inc (NYSE:EOG) news were published by: Fool.com which released: “EOG Resources, Inc. Is in a Class All by Itself” on November 22, 2016. Also Fool.com published the news titled: “3 Remarkable Numbers From EOG Resources Inc’s Q3 Report” on November 04, 2016. Seekingalpha.com‘s news article titled: “EOG Resources: Long-Term Play” with publication date: November 28, 2016 was also an interesting one.

EOG Company Profile

EOG Resources, Inc. (EOG), incorporated on June 12, 1985, explores for, develops, produces and markets natural gas and crude oil primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas. The Company’s activities are all natural gas and crude oil exploration and production related. EOG’s total estimated net proved reserves include approximately 2,118 million barrels of oil equivalent (MMBoe), of which over 1,098 million barrels (MMBbl) is crude oil and condensate reserves, approximately 383 MMBbl include natural gas liquids (NGLs) reserves and over 3,825 billion cubic feet, or 637 MMBoe, includes natural gas reserves.

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