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Houston Based EOG Resources Shares Crashed

Houston Based EOG Resources Inc shares., -2.39% slipped 2.39% to $83.72 Tuesday. This proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, -0.20% falling 0.20% to 4,343.54 and Dow Jones Industrial Average DJIA, -0.60% falling 0.60% to 34,577.37.

EOG Resources Inc. closed $4.27 below its 52-week high ($87.99), which the company reached on June 7th. Despite its losses, the stock outperformed some of its competitors Tuesday, as ConocoPhillips COP, -3.94% fell 3.94% to $60.28, Pioneer Natural Resources Co. PXD, -3.47% fell 3.47% to $160.96, and Occidental Petroleum Corp. OXY, -6.35% fell 6.35% to $30.51.

Houston Based EOG Resources Shares CrashedEOG Resources Inc. trading volume (3.7 M) remained 245,464 below its 50-day average volume of 4.0 M.This was the stock’s second consecutive day of losses. EOG Resources with ticker code (EOG) now have 31 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price ranges between 119 and 73 calculating the average target price we see 97.31. With the stocks previous close at 85.77, this would indicate that there is a potential upside of 13.5%. The 50 days MA is 83.79 while the 200-day moving average is 70.48. The market cap for the company is $48,859m.

EOG Resources, with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; the Republic of Trinidad and Tobago; the People’s Republic of China; and the Sultanate of Oman. As of December 31, 2020, it had total estimated net proved reserves of 3,220 million barrels of oil equivalent, including 1,514 million barrels of crude oil and condensate reserves; 813 MMBbl of natural gas liquid reserves; and 5,360 billion cubic feet of natural gas reserves.

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