Price Target Update on EOG Resources (NYSE:EOG)

EOG Resources (NYSE:EOG) stock is expected to deviate a maximum of $7.4 from the average target price of $85.59 for the short term period. 17 Street Experts have initiated coverage on the stock with the most promising target being $96 and the most muted being $71.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Barclays maintains its outlook on EOG Resources (NYSE:EOG). The current rating of the shares is Overweight, according to the research report released by the firm. The brokerage firm raises the price target from $80 per share to $83 per share. The rating by the firm was issued on May 24, 2016.

EOG Resources (NYSE:EOG): stock turned positive on Thursday. Though the stock opened at $84.76, the bulls momentum made the stock top out at $84.97 level for the day. The stock recorded a low of $83.97 and closed the trading day at $84.5, in the green by 1.08%. The total traded volume for the day was 2,413,209. The stock had closed at $83.6 in the previous days trading.

The company shares have dropped -4.62% from its 1 Year high price. On Nov 3, 2015, the shares registered one year high at $89.52 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $81.47 and the 200 Day Moving Average price is recorded at $74.30. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (VP, Accounting) of Eog Resources Inc, Janssen Ann D. had sold 831 shares worth of $70,593 in a transaction dated June 9, 2016. In this transaction, 831 shares were sold at $84.95 per share.

EOG Resources, Inc. (EOG), is engaged in the exploration, development, production and marketing of crude oil and natural gas. The Company operates in producing basins in the United States, Canada, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The Peoples Republic of China (China) and the Argentine Republic (Argentina), among others. As of December 31, 2014, EOGs total estimated net proved reserves were 2,497 million barrels of oil equivalent (MMBoe), of which 1,140 million barrels (MMBbl) are crude oil and condensate reserves, 467 MMBbl are natural gas liquids (NGLs) reserves and 5,343 billion cubic feet, or 890 MMBoe, are natural gas reserves. As of December 31, 2014, approximately 97% of the Companys net proved reserves, on a crude oil equivalent basis, are located in the United States and 3% in Trinidad. Its operations are focused in the basins in the United States, with a focus on crude oil.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.