EOG Resources (EOG) has recently been outpacing the stock market gains and has been given a consensus recommendation of 'Hold' by brokerages. Despite intermittently underperforming compared to competitors on certain days, those who invested in the company three years ago have experienced a significant rise, up by 94%. EOG's chairman and CEO, Ezra Yacob sold a substantial amount of stock, while Citigroup increased EOG's price target to $130.00. EOG's stock broke below its 200-day moving average yet still rose by 6.5%. EOG expects service costs to drop this year in shale plays and has experienced heavy and directionally bearish put volume. First quarter earnings for 2024 beat expectations but have periodically underperformed the market. EOG plans to invest $4.2 billion in drilling and exploration operations in 2024. An increase in dividends has been announced, and despite a miss in Q4 earnings, EOG's stock remains a promising investment due to strong first quarter earnings. Truist cut the EOG's stock target and downgraded it to 'hold'. However, it is noted that EOG is preparing for a reduced US Oil growth of 50% in 2024.
Eog Resources EOG News Analytics from Tue, 28 Nov 2023 08:00:00 GMT to Sun, 26 May 2024 11:40:00 GMT -
Rating -2
- Innovation 4
- Information 5
- Rumor -6
