EOG Resources (NYSE:EOG) Price Target Cut to $154.00

EOG Resources (NYSE:EOG) had its target price decreased by equities researchers at UBS Group from $167.00 to $154.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the energy exploration company’s stock. UBS Group’s target price would indicate a potential upside of 24.73% from the company’s previous close.

EOG has been the topic of a number of other research reports. Sanford C. Bernstein dropped their price objective on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. KeyCorp assumed coverage on EOG Resources in a research note on Thursday, June 27th. They set an “overweight” rating and a $157.00 price objective for the company. Wolfe Research started coverage on shares of EOG Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Bank of America reissued a “buy” rating and issued a $151.00 price target on shares of EOG Resources in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Fourteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $142.89.

EOG Resources Stock Performance

NYSE EOG traded up $0.28 during trading hours on Wednesday, hitting $123.47. The company’s stock had a trading volume of 812,293 shares, compared to its average volume of 3,170,159. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The company has a market cap of $70.96 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28. The company’s 50 day simple moving average is $125.80 and its two-hundred day simple moving average is $126.44. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18. The firm had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. As a group, sell-side analysts expect that EOG Resources will post 12.2 EPS for the current fiscal year.

Insider Buying and Selling at EOG Resources

In other news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the transaction, the chief operating officer now directly owns 35,058 shares in the company, valued at $4,434,135.84. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock worth $2,751,612 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of EOG Resources by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock valued at $6,938,635,000 after acquiring an additional 146,674 shares during the period. Capital Research Global Investors boosted its position in EOG Resources by 1.3% during the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after purchasing an additional 373,365 shares in the last quarter. Capital World Investors raised its position in EOG Resources by 5.4% during the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after acquiring an additional 1,361,538 shares during the period. Ameriprise Financial Inc. boosted its holdings in EOG Resources by 2.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after buying an additional 260,727 shares during the last quarter. Finally, Capital International Investors increased its stake in EOG Resources by 7.1% during the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after buying an additional 766,056 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.