EOG Resources Inc. [EOG] is -3.97% lower this YTD. Is it still time to buy?

EOG Resources Inc. [NYSE: EOG] gained 0.02% or 0.02 points to close at $124.38 with a heavy trading volume of 3559395 shares. The company report on January 4, 2023 that EOG Resources Joins UNEP’s Oil and Gas Methane Partnership 2.0.

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EOG Resources, Inc. (EOG) today announced that the company has joined the Oil and Gas Methane Partnership 2.0 (OGMP 2.0), UNEP’s flagship oil and gas reporting and mitigation program. OGMP 2.0 is the most comprehensive, measurement-based, reporting framework for the oil and gas industry designed to improve the accuracy and transparency of methane emissions reporting.

“The OGMP 2.0 framework aligns with EOG’s commitment to continuous improvement by leveraging data to help improve our operations and emissions performance,” said President and COO, Lloyd W. “Billy” Helms, Jr. “After the tremendous progress we have made reducing our methane emissions percentage by 85% since 2017, we continue to pilot recent advancements to methane detection technology that show promise to further improve our methane management efforts. We are excited to join OGMP 2.0 to demonstrate our support for accurate and transparent data collection and reporting and encourage industry-wide innovation and progress to reduce methane emissions.”.

It opened the trading session at $124.15, the shares rose to $125.74 and dropped to $123.83, the range by which the price of stock traded the whole day. The daily chart for EOG points out that the company has recorded 21.27% gains over the past six months. However, it is still -39.27% lower than its most recent low trading price.

If we look at the average trading volume of 3.78M shares, EOG reached to a volume of 3559395 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 $155.10 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 1.90. 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 December 15, 2022. The new note on the price target was released on December 05, 2022, representing the official price target for EOG Resources Inc. stock. Previously, the target price had yet another raise to $151, while Stifel analysts kept a Buy rating on EOG stock. On October 19, 2022, analysts decreased their price target for EOG shares from 149 to 147.

The Average True Range (ATR) for EOG Resources Inc. is set at 4.31, with the Price to Sales ratio for EOG stock in the period of the last 12 months amounting to 2.91. The Price to Book ratio for the last quarter was 3.04, with the Price to Cash per share for the same quarter was set at 9.04. Price to Free Cash Flow for EOG in the course of the last twelve months was 13.75 with Quick ratio for the last quarter at 1.60.

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 -2.37. With this latest performance, EOG shares dropped by -6.17% in over the last four-week period, additionally plugging by 21.27% over the last 6 months – not to mention a rise of 36.64% 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 42.21, with the RSI for the last a single of trading hit 39.40, and the three-weeks RSI is set at 43.55 for EOG Resources Inc. [EOG]. The present Moving Average for the last 50 days of trading for this stock 134.64, while it was recorded at 126.27 for the last single week of trading, and 123.01 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 1.60 and a Current Ratio set at 1.80.

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 10.55%.

An analysis of insider ownership at EOG Resources Inc. [EOG]

There are presently around $64,182 million, or 89.00% of EOG stock, in the hands of institutional investors. The top three institutional holders of EOG stocks are: VANGUARD GROUP INC with ownership of 53,571,626, which is approximately 1.102% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 44,051,842 shares of the stock with an approximate value of $5.48 billion in EOG stocks shares; and STATE STREET CORP, currently with $4.24 billion in EOG stock with ownership of nearly -3.75% 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 652 institutional holders increased their position in EOG Resources Inc. [NYSE:EOG] by around 31,503,454 shares. Additionally, 587 investors decreased positions by around 32,919,011 shares, while 127 investors held positions by with 451,589,624 shares. The mentioned changes placed institutional holdings at 516,012,089 shares, according to the latest SEC report filing. EOG stock had 127 new institutional investments in for a total of 10,217,551 shares, while 110 institutional investors sold positions of 2,867,070 shares during the same period.

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