It is Poised to be a Bull Market for EOG Resources Inc. (EOG)

EOG Resources Inc. (NYSE: EOG) stock jumped 1.32% on Thursday to $134.66 against a previous-day closing price of $132.91. With 2.37 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.89 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $136.05 whereas the lowest price it dropped to was $133.77. The 52-week range on EOG shows that it touched its highest point at $147.74 and its lowest point at $98.52 during that stretch. It currently has a 1-year price target of $145.90. With its current market cap of 77.71 billion, EOG has annualized dividend of $3.30 while the current yield stands at 2.45%. Beta for the stock currently stands at 1.56.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EOG was up-trending over the past week, with a rise of 2.36%, but this was up by 4.27% over a month. Three-month performance surged to 21.68% while six-month performance rose 32.70%. The stock gained 13.27% in the past year, while it has gained 4.93% so far this year. A look at the trailing 12-month EPS for EOG yields 14.85 with Next year EPS estimates of 12.85. For the next quarter, that number is 2.73. This implies an EPS growth rate of 65.50% for this year and 15.42% for next year. EPS is expected to decline by -1.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 82.00%.

Float and Shares Shorts:

At present, 580.00 million EOG shares are outstanding with a float of 579.46 million shares on hand for trading. On Aug 30, 2023, short shares totaled 6.88 million, which was 1.18% higher than short shares on Jul 30, 2023.

Institutional Ownership:

Through their ownership of 91.21% of EOG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.77% of EOG, in contrast to 30.94% held by mutual funds. Shares owned by individuals account for 1.25%. As the largest shareholder in EOG with 8.86% of the stake, The Vanguard Group, Inc. holds 51,829,588 shares worth 51,829,588. A second-largest stockholder of EOG, Capital Research & Management Co, holds 33,923,655 shares, controlling over 5.80% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in EOG, holding 33,754,557 shares or 5.77% stake. With a 3.12% stake in EOG, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 18,230,396 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.40% of EOG stock, is the second-largest Mutual Fund holder. It holds 14,008,278 shares valued at 1.86 billion. SPDR Series – Energy Select Secto holds 2.22% of the stake in EOG, owning 12,996,084 shares worth 1.72 billion.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, EOG reported revenue of $8.64B and operating income of $4.27B. The EBITDA in the recently reported quarter was $5.21B and diluted EPS was $3.81.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EOG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EOG analysts setting a high price target of $169.00 and a low target of $113.00, the average target price over the next 12 months is $147.31. Based on these targets, EOG could surge 25.5% to reach the target high and fall by -16.08% to reach the target low. Reaching the average price target will result in a growth of 9.39% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded EOG stock several times over the past three months with 16 Buys and 1 Sells. In these transactions, 2,907 shares were bought while 2,031 shares were sold. The number of buy transactions has increased to 140 while that of sell transactions has risen to 72 over the past year. The total number of shares bought during that period was 466,392 while 321,935 shares were sold.

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