EOG Resources stock slides 2.82% and underperforms market
Updated
Updated · MarketWatch · May 7
EOG Resources stock slides 2.82% and underperforms market
13 articles · Updated · MarketWatch · May 7
Shares closed at $130.89 on Thursday, marking a third straight daily loss as the S&P 500 fell 0.38% and the Dow dropped 0.63%.
EOG also lagged peers including Devon Energy, Occidental Petroleum and Diamondback Energy, all of which declined by smaller percentages during the session.
The stock finished 13.81% below its 52-week high of $151.87 reached on 30 March, while trading volume rose to 5.7 million shares, above its 50-day average.
EOG's profits are surging, so why is its stock price tumbling amid the Middle East oil crisis?
With oil prices soaring, why are top energy producers hesitant to increase drilling and capitalize on the boom?