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EOG Resources Inc Suffers Massive Share Drop

EOG Resources Inc. shares dropped 1.94% to $72.73 Tuesday. This proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX falling 0.47% to 4,401.46 and Dow Jones Industrial Average DJIA falling 0.24% to 35,058.52.

EOG Resources Inc. closed $15.26 below its 52-week high ($87.99), which the company reached on June 7. The stock demonstrated a mixed performance compared to some of its competitors Tuesday, as ConocoPhillips COP fell 0.95% to $56.33, Pioneer Natural Resources Co. PXD fell 1.37% to $142.68, and Occidental Petroleum Corp. OXY fell 3.17% to $26.26.

EOG Resources Inc Suffers Massive Share DropEOG Resources Inc trading volume (5.0 M) eclipsed its 50-day average volume of 4.2 M.The market anticipates the petroleum firm to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2021. This agreement outlook is important in evaluating the company’s earnings picture. Still, a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 4. On the other hand, if they miss, the stock may move lower. This oil and gas company is expected to post quarterly earnings of $1.54 per share in its upcoming report, representing a year-over-year change of +769.6%.Revenues are expected to be $4.01 billion, up 263.7% from the year-ago quarter.

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