EOG Resources Inc. [NYSE: EOG] loss -1.54% on the last trading session, reaching $119.23 price per share at the time. The company report on March 28, 2022 that Eco (Atlantic) Oil and Gas Ltd. Announces TSXV Approval for Closing of Azinam Acquisition.
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Further to the Company’s announcement of 11 March 2022, Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSX‐V:EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to confirm that it and Azinam Holdings Limited (“Azinam Holdings”) have now received final approval from the TSX Venture Exchange (the “Exchange”) (the “Approval”) for Eco’s acquisition (through a wholly-owned subsidiary) of Azinam Group Limited (“Azinam”) (the “Acquisition”), and accordingly Eco is now the sole owner of Azinam and will now issue 22,296,300 new Common Shares in Eco (“Common Shares”) to Azinam Holdings representing 9.9% of the Enlarged Share Capital detailed below (the “First Tranche”), with the issuance of the remaining 17,874,174 Common Shares (the “Second Tranche”), subject only to Exchange clearance of the Personal Information Forms (“PIFs”) of Azinam Holdings’ Directors, which is expected to be received this week. A further announcement confirming the issue of the Second Tranche will be released once the Exchange confirmation has been received.
As disclosed in the Company’s announcement of February 8, 2022, the Acquisition will result in the issuance to Azinam Holdings of, in aggregate, 40,170,474 Common Shares (the “New Issue”), providing Azinam Holdings with 16.5% of Eco’s share capital as enlarged by such issue (“Enlarged Share Capital”), providing for a cashless acquisition to become the sole owner of Azinam’s entire African portfolio. In addition, the Company expects to receive customary formal acknowledgment from the government of South Africa in respect of this change of control shortly.
EOG Resources Inc. represents 584.00 million in outstanding shares, while the company has a total market value of $67.83 billion with the latest information. EOG stock price has been found in the range of $119.22 to $123.88.
If compared to the average trading volume of 5.08M shares, EOG reached a trading volume of 4027841 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about EOG Resources Inc. [EOG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EOG shares is $132.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EOG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
TD Securities have made an estimate for EOG Resources Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 24, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price from $130 to $146. The new note on the price target was released on March 08, 2022, representing the official price target for EOG Resources Inc. stock. On January 31, 2022, analysts increased their price target for EOG shares from 111 to 135.
The Average True Range (ATR) for EOG Resources Inc. is set at 4.98, with the Price to Sales ratio for EOG stock in the period of the last 12 months amounting to 3.64. The Price to Book ratio for the last quarter was 3.14, with the Price to Cash per share for the same quarter was set at 9.16. Price to Free Cash Flow for EOG in the course of the last twelve months was 11.51 with Quick ratio for the last quarter at 2.00.
Trading performance analysis for EOG stock
EOG Resources Inc. [EOG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.47. With this latest performance, EOG shares gained by 3.02% in over the last four-week period, additionally plugging by 53.30% over the last 6 months – not to mention a rise of 65.41% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EOG stock in for the last two-week period is set at 53.40, with the RSI for the last a single of trading hit 50.05, and the three-weeks RSI is set at 54.47 for EOG Resources Inc. [EOG]. The present Moving Average for the last 50 days of trading for this stock 114.24, while it was recorded at 121.26 for the last single week of trading, and 90.79 for the last 200 days.
EOG Resources Inc. [EOG]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and EOG Resources Inc. [EOG] shares currently have an operating margin of +36.93 and a Gross Margin at +44.80. EOG Resources Inc.’s Net Margin is presently recorded at +23.58.
Return on Equity for this stock inclined to 21.96, with Return on Assets sitting at 12.60.
EOG Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.10.
EOG Resources Inc. [EOG]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EOG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for EOG Resources Inc. go to 11.75%.
An analysis of insider ownership at EOG Resources Inc. [EOG]
There are presently around $60,946 million, or 87.90% of EOG stock, in the hands of institutional investors. The top three institutional holders of EOG stocks are: VANGUARD GROUP INC with ownership of 51,345,348, which is approximately 2.807% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 46,118,313 shares of the stock with an approximate value of $5.58 billion in EOG stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $5.11 billion in EOG stock with ownership of nearly -12.833% of the company’s market capitalization.
Positions in EOG Resources Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 608 institutional holders increased their position in EOG Resources Inc. [NYSE:EOG] by around 37,925,805 shares. Additionally, 416 investors decreased positions by around 40,819,810 shares, while 130 investors held positions by with 424,563,551 shares. The mentioned changes placed institutional holdings at 503,309,166 shares, according to the latest SEC report filing. EOG stock had 196 new institutional investments in for a total of 8,556,731 shares, while 63 institutional investors sold positions of 2,842,939 shares during the same period.