• Return to Headlines

Downgrade Alert for EOG Resources (EOG)

By David Diaz

EOG Resources (NYSE:EOG) was downgraded from Buy to Hold at Societe Generale today. The stock closed yesterday at $96.11 on volume of 2.3 million shares, below average daily volume of 3.8 million.

EOG Resources, Inc. explores for, develops, produces and markets natural gas and crude oil. The Company operates in major producing basins in the United States, Canada, Trinidad, the United Kingdom North Sea, China and, from time to time, select other international areas.

EOG Resources (NYSE:EOG) is currently priced 2.4% above its average consensus analyst price target of $93.79. The stock should discover initial support at its 200-day moving average (MA) of $75.79 and subsequent support at its 50-day MA of $75.10.

In the past 52 weeks, shares of EOG Resources have traded between a low of $57.15 and a high of $101.36 and closed yesterday at $96.11, which is 68% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 1.20% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of EOG Resources on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.76. Since that recommendation, shares of EOG Resources have risen 9.0%. We continue to monitor EOG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades EOG Resources

Ticker(s): EOG