EOG Resources Inc (EOG) is Downgraded by Societe Generale to Hold

EOG Resources Inc (EOG) was Downgraded by Societe Generale to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Societe Generale advised their investors in a research report released on Oct 3, 2016.

Many Wall Street Analysts have commented on EOG Resources Inc. EOG Resources Inc was Downgraded by Societe Generale to ” Hold” on Oct 3, 2016. FBR & Co. Initiated EOG Resources Inc on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $108.FBR Capital Initiated EOG Resources Inc on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $108.

On the company’s financial health, EOG Resources Inc reported $-0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.48. The company had revenue of $1775.70 million for the quarter, compared to analysts expectations of $1523.75 million. The company’s revenue was down -28.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

EOG Resources Inc opened for trading at $95.55 and hit $97.2 on the upside on Friday, eventually ending the session at $96.71, with a gain of 1.75% or 1.66 points. The heightened volatility saw the trading volume jump to 40,06,452 shares. Company has a market cap of $53,253 M.

In a different news, on Sep 23, 2016, Timothy K Driggers (EVP & Chief Financial Officer) sold 8,763 shares at $93.45 per share price. According to the SEC, on Sep 23, 2016, William R. Thomas (Chairman & CEO) sold 16,581 shares at $92.86 per share price. On Sep 23, 2016, Ann D. Janssen (VP, Accounting) sold 1,310 shares at $94.13 per share price, according to the Form-4 filing with the securities and exchange commission.

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 People’s Republic of China (China) and the Argentine Republic (Argentina) among others. As of December 31 2014 EOG’s total estimated net proved reserves were 2497 million barrels of oil equivalent (MMBoe) of which 1140 million barrels (MMBbl) are crude oil and condensate reserves 467 MMBbl are natural gas liquids (NGLs) reserves and 5343 billion cubic feet or 890 MMBoe are natural gas reserves. As of December 31 2014 approximately 97% of the Company’s 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.

EOG Resources Inc

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