EOG Resources Inc. (NYSE: EOG) Stock Coverage Initiated at FBR & Co

Analysts at FBR & Co initiated coverage on EOG Resources Inc. (NYSE: EOG) stock, rating the company at Outperform. As a means of comparison, a number of other analysts have commented on the shares recently, and the company has secured a consensus one-year price target of $0.14, lower than the opening price of $89.88. EOG Resources Inc.stock has a 52-week high of $95.93.After initiating coverage,, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unusual.

U.S. stocks finished sharply lower on Tuesday as equities slid amid a slump in energy shares and continued uncertainty about the Federal Reserve’s plans for monetary policy.

The Dow Jones Industrial Average DJIA, -1.41% closed 258.05 points, or 1.4%, lower at 18,066.89, and was down nearly 300 points at its lowest.

The S&P 500 index SPX, -1.48% gave up 32.02 points, or 1.5%, at 2,127.02.

Meanwhile, the Nasdaq Composite Index COMP, -1.09% fell 56.63 points, or 1.1%, at 5,155.25.

In early action today stocks are moving up with the Dow being led by Apple.

Apple Inc. AAPL, is up +2.69% and climbed 0.9%.

Stock prices often move to the upside on recommendations and new price targets of professional analysts.

Shares of EOG Resources Inc. (NYSE: EOG) opened at $89.88 today and traded in a range between, $89.30 and $90.30, and last traded at $89.64, which represents a change of $ -0.76 over the previous closing price.

EOG Resources Inc. (NYSE: EOG) currently has a market cap of 49.36B

The stocks average daily volume is 2,987,300 shares out of a total float 548,215,000 of and some 284,935 shares crossed the trading desk yesterday, 67 percent lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.

While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are considering.

By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.

With that in mind EOG Resources Inc. (NYSE: EOG) now has a 50-day MA is $88.71 and 200-day MA is $81.39, and it has traded in a 52-week range between $57.15 – 95.93 and today’s last price is -6.56 percent off the 52 week high.

Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of The Woodbridge Citizen. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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