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Does EOG Resources Inc. (NYSE: EOG) Still Need To Convince Analysts?

EOG Resources Inc. (NYSE:EOG) traded at $144.32 at close of the session on Tuesday, 11/22/22, made an upward move of 3.19% on its previous day’s price.

Looking at the stock we see that its previous close was $139.86 and the beta (5Y monthly) reads 1.50 with the day’s price range being $140.58 – $144.605. The company has a trailing 12-month PE ratio of 11.33. In terms of its 52-week price range, EOG has a high of $150.88 and a low of $77.93. The company’s stock has gained about 7.17% over that past 30 days.

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EOG Resources Inc. has a market cap of $86.86 billion and is expected to release its quarterly earnings report on Feb 22, 2023 – Feb 27, 2023. With its Forward Dividend at 3.30 and a yield of 2.29%, the company’s investors could be anxious for the EOG stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $3.78, with the EPS growth for the year raised at $14.71 for 2022 and $15.54 for next year. These figures represent 70.80% and 5.60% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $7.33 billion, with a low of $6.3 billion and a high of $8.14 billion. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $26.42 billion, or 41.70% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the EOG stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 31 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 5 have rated the EOG Resources Inc. (EOG) stock as a Hold, while 24 rate it as a Buy. 2 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the EOG stock currently stands at 1.07, and the current price level is 2.76% off its SMA20 and 11.81% from its 50-day simple moving average. The RSI (14) is pointing at 58.68 while the volatility over the past week is 3.20% and jumps to 3.38% over the past one month. The beta value is 1.54, while the average true range (ATR) is currently pointing at 5.08. The average price target for the stock over the next 12 months is $155.37, with the estimates having a low of $124.67 and a high of $180.00. These price ends are 13.62% and -24.72% off the current price level respectively, although investors could be excited at the prospect of a -7.4% if the EOG share price touches on the median price of $155.00.

Let’s briefly compare EOG Resources Inc. (EOG) stock to its peers. We find that current price change of 3.19% and 76.29% over the past 12 months for EOG competes that of Pioneer Natural Resources Company (PXD), which has seen its stock price rise 2.69% in the last trading session and was 51.40% over the last one year. Another of its peers Devon Energy Corporation (DVN) has gained 2.05% previous session, and was 72.87% up over the past year, while Occidental Petroleum Corporation (OXY) was also up 4.57% in the last session, while its price remained in the green at 142.49% over the same period. EOG Resources Inc. has a P/E ratio of 11.33 compared to Pioneer Natural Resources Company’s 8.96 and Devon Energy Corporation’s 7.19. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.36% and 1.18%, respectively, at close of the trading.

Coming back to EOG Resources Inc. (NYSE:EOG), we note that the average 3-month trading volume was 3.63 million, while that of the preceding 10-day period stands at 3.38 million. Current shares outstanding are 587.39 million.

The insiders hold 0.30% of the company’s shares while institutions hold 89.10%. The data shows that short shares as of Oct 13, 2022, stood at 7.5 million at a short ratio of 2.1. This represents a 1.28% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 7.06 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 68.18% up in year-to-date price movement.

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