EOG Resources (NYSE:EOG) Price Target Cut to $135.00 by Analysts at JPMorgan Chase & Co.

EOG Resources (NYSE:EOG) had its target price lowered by analysts at JPMorgan Chase & Co. from $143.00 to $135.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the energy exploration company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.20% from the company’s current price.

Other equities analysts have also issued research reports about the company. KeyCorp initiated coverage on EOG Resources in a research note on Thursday, June 27th. They set an “overweight” rating and a $157.00 target price on the stock. Scotiabank reduced their target price on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Bank of America reaffirmed a “buy” rating and issued a $151.00 target price on shares of EOG Resources in a report on Friday, June 14th. Piper Sandler reduced their target price on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Sanford C. Bernstein cut their price objective on EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $143.63.

EOG Resources Stock Performance

NYSE:EOG traded up $0.31 on Thursday, hitting $118.21. The company’s stock had a trading volume of 1,015,195 shares, compared to its average volume of 3,143,178. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average of $126.21 and a two-hundred day moving average of $126.17. The firm has a market capitalization of $67.94 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.28. EOG Resources has a one year low of $108.94 and a one year high of $139.67.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. Research analysts predict that EOG Resources will post 12.2 earnings per share for the current year.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock valued at $2,751,612 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several institutional investors have recently bought and sold shares of the company. Wright Investors Service Inc. lifted its stake in EOG Resources by 0.8% in the first quarter. Wright Investors Service Inc. now owns 10,163 shares of the energy exploration company’s stock valued at $1,299,000 after purchasing an additional 80 shares during the last quarter. CVA Family Office LLC lifted its stake in EOG Resources by 11.0% in the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock valued at $103,000 after purchasing an additional 81 shares during the last quarter. Bailard Inc. raised its holdings in EOG Resources by 0.4% during the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after acquiring an additional 81 shares during the period. Field & Main Bank raised its holdings in EOG Resources by 1.4% during the 1st quarter. Field & Main Bank now owns 6,163 shares of the energy exploration company’s stock valued at $788,000 after acquiring an additional 83 shares during the period. Finally, PDS Planning Inc raised its holdings in EOG Resources by 4.1% during the 1st quarter. PDS Planning Inc now owns 2,152 shares of the energy exploration company’s stock valued at $275,000 after acquiring an additional 84 shares during the period. 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.