Northland Securities began coverage on shares of EOG Resources (NYSE:EOG) in a report released on Monday morning, Benzinga reports. The firm issued a market perform rating and a $56.00 target price on the energy exploration company’s stock.
Several other equities research analysts have also weighed in on the company. Credit Suisse Group assumed coverage on EOG Resources in a research report on Tuesday, August 4th. They set a buy rating and a $65.00 price target on the stock. JPMorgan Chase & Co. lowered EOG Resources from an overweight rating to a neutral rating and dropped their price target for the company from $62.00 to $56.00 in a research report on Thursday, July 23rd. Zacks Investment Research upgraded EOG Resources from a hold rating to a buy rating and set a $53.00 price target on the stock in a research report on Thursday, July 23rd. Scotiabank dropped their price target on EOG Resources from $65.00 to $57.00 and set a sector perform rating on the stock in a research report on Monday, July 13th. Finally, Wells Fargo & Company lifted their price target on EOG Resources from $55.00 to $56.00 and gave the company an equal weight rating in a research report on Thursday, June 25th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $64.17.
Shares of EOG stock opened at $40.86 on Monday. The firm has a market cap of $23.79 billion, a P/E ratio of 66.98, a P/E/G ratio of 9.21 and a beta of 1.95. EOG Resources has a fifty-two week low of $27.00 and a fifty-two week high of $89.54. The business’s 50 day moving average price is $45.64 and its 200-day moving average price is $47.14. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.82 and a current ratio of 2.13.
EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, August 6th. The energy exploration company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.18). EOG Resources had a net margin of 2.44% and a return on equity of 7.70%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The company’s revenue for the quarter was down 76.0% compared to the same quarter last year. As a group, equities analysts predict that EOG Resources will post 0.51 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Capital Research Global Investors raised its stake in shares of EOG Resources by 2.4% in the first quarter. Capital Research Global Investors now owns 62,020,810 shares of the energy exploration company’s stock worth $2,227,784,000 after purchasing an additional 1,472,623 shares during the last quarter. Capital International Investors raised its stake in shares of EOG Resources by 28.3% in the first quarter. Capital International Investors now owns 55,138,808 shares of the energy exploration company’s stock worth $1,980,582,000 after purchasing an additional 12,170,763 shares during the last quarter. State Street Corp increased its position in EOG Resources by 8.5% during the first quarter. State Street Corp now owns 30,595,808 shares of the energy exploration company’s stock valued at $1,099,001,000 after acquiring an additional 2,394,120 shares during the last quarter. Bank of New York Mellon Corp increased its position in EOG Resources by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 17,595,617 shares of the energy exploration company’s stock valued at $891,395,000 after acquiring an additional 326,652 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in EOG Resources by 1.5% during the first quarter. Geode Capital Management LLC now owns 8,345,679 shares of the energy exploration company’s stock valued at $299,143,000 after acquiring an additional 119,289 shares during the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
About EOG Resources
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.
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