EOG is up 44% off December lows around $100
Oil stock EOG Resources Inc (NYSE:EOG) snared a record high of $149.75 within the first 30 minutes of trading this morning, and was last seen up 1.4% as crude prices soar. Black gold has given the energy sector new life since the start of the U.S.-Iran war, with Brent crude topping $110 this morning.
EOG is now up roughly 44% since its December lows. The security has added 16% over the past 12 months, with support from the 20-day moving average emerging as support in mid-January.
Raymond James hiked its price target early this morning to $185 from $157, the third analyst to do so already this week. More hikes could come down the pipeline, with the stock's consensus 12-month price target of $141.50 coming in at a 5% deficit to current levels. Upgrades could be imminent as well, with 19 of the 34 in coverage sporting a "hold" rating.
Options look affordably priced as well. This is per the EOG Resources stock's Schaeffer's Volatility Index (SVI) of 35% that stands higher than 29% of all other readings from the past year. In other words, near-term option traders are pricing in relatively low volatility expectations.