Market Analysts see EOG Resources, Inc. [EOG] falling to $140. Time to buy?

EOG Resources, Inc. [NYSE: EOG] gained 1.69% or 1.89 points to close at $113.94 with a heavy trading volume of 4336819 shares. The company report on February 22, 2024 at 4:15 PM that EOG Resources Reports Fourth Quarter and Full-Year 2023 Results; Announces 2024 Capital Plan.

EOG Resources, Inc. (EOG) today reported fourth quarter and full-year 2023 results. The attached supplemental financial tables and schedules for the reconciliation of non-GAAP measures to GAAP measures and related definitions, along with a related presentation, are also available on EOG’s website at http://investors.eogresources.com/investors.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The daily chart for EOG points out that the company has recorded -9.19% loss over the past six months.

If we look at the average trading volume of 3.37M shares, EOG reached to a volume of 4336819 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 $139.55 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 1.86. 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.

BofA Securities have made an estimate for EOG Resources, Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 05, 2024. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $150 to $130. The new note on the price target was released on December 14, 2023, representing the official price target for EOG Resources, Inc. stock. Previously, the target price had yet another raise to $134, while Morgan Stanley analysts kept a Equal-Weight rating on EOG stock. On December 06, 2023, analysts decreased their price target for EOG shares from 156 to 150.

The Average True Range (ATR) for EOG Resources, Inc. is set at 2.82, with the Price to Sales ratio for EOG stock in the period of the last 12 months amounting to 2.84. The Price to Book ratio for the last quarter was 2.36, with the Price to Cash per share for the same quarter was set at 9.10. Price to Free Cash Flow for EOG in the course of the last twelve months was 12.82 with Quick ratio for the last quarter at 2.13.

Trading performance analysis for EOG stock

EOG Resources, Inc. [EOG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.72. With this latest performance, EOG shares dropped by -1.38% in over the last four-week period, additionally sinking by -9.19% over the last 6 months – not to mention a rise of 1.93% 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 50.45, with the RSI for the last a single of trading hit 52.28, and the three-weeks RSI is set at 48.72 for EOG Resources, Inc. [EOG]. The present Moving Average for the last 50 days of trading for this stock 115.77, while it was recorded at 114.12 for the last single week of trading, and 121.05 for the last 200 days.

EOG Resources, Inc. [EOG]: A deeper dive into fundamental analysis

EOG Resources, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.13 and a Current Ratio set at 2.44.

EOG Resources, Inc. [EOG]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, EOG Resources, Inc. posted 2.69/share EPS, while the average EPS was predicted by analysts to be reported at 2.48/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.50%. 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 54.90%.

An analysis of Institutional ownership at EOG Resources, Inc. [EOG]

The top three institutional holders of EOG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in EOG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in EOG stock with ownership which is approximately 5.8325%.