Long Position on EOG @ $76.75 on 5/7/2021 (Momentum)

EOG Resources, Inc. (EOG), together 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 (MMBbl) of crude oil and condensate reserves; 813 MMBbl of natural gas liquid reserves; and 5,360 billion cubic feet of natural gas reserves.

The company was formerly known as Enron Oil & Gas Company.

Please note, this stock reported earnings yesterday, May 6, 2021.

EOG Resources reported 1st Quarter March 2021 earnings of $1.62 per share on revenue of $3.7 billion. The consensus earnings estimate was $1.44 per share on revenue of $3.6 billion. Revenue fell 21.7% compared to the same quarter a year ago.

Following a strong earnings report and an upgraded buy point, this stock should continue to ride its upward momentum and increase share prices.

Entry Point: $76.75

Stop Loss: $73.00

Trading Range: $26.10 - $61.56

Target Price: $84.45

Updates

5/17/2021 2:36:04 PM

EOG closed at $84.25

Position closed on 5/17/2021 at price of $84.25 with a 9.77% gain in 10 days.

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