EOG Resources (NYSE:EOG) PT Lowered to $132.00

EOG Resources (NYSE:EOG) had its price objective reduced by Morgan Stanley from $134.00 to $132.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price objective points to a potential upside of 7.15% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Piper Sandler dropped their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. KeyCorp initiated coverage on shares of EOG Resources in a report on Thursday, June 27th. They issued an “overweight” rating and a $157.00 price objective for the company. Sanford C. Bernstein lowered their target price 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. Bank of America restated a “buy” rating and set a $151.00 target price on shares of EOG Resources in a report on Friday, June 14th. Finally, UBS Group boosted their price objective on EOG Resources from $166.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Fourteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and a consensus price target of $143.58.

EOG Resources Stock Up 1.2 %

EOG opened at $123.19 on Monday. The company has a market cap of $70.80 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a 50-day moving average price of $125.80 and a 200 day moving average price of $126.44. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The business had revenue of $6.03 billion during 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 business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.49 earnings per share. Sell-side analysts expect that EOG Resources will post 12.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s 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 transaction, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. raised its holdings in shares of EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock valued at $1,370,000 after purchasing an additional 10,618 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of EOG Resources in the 2nd quarter valued at $15,280,000. RiverFront Investment Group LLC raised its holdings in shares of EOG Resources by 10.2% in the 2nd quarter. RiverFront Investment Group LLC now owns 120,809 shares of the energy exploration company’s stock valued at $15,206,000 after purchasing an additional 11,197 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of EOG Resources in the 2nd quarter valued at $430,000. Finally, Delphi Management Inc. MA raised its holdings in shares of EOG Resources by 1.1% in the 2nd quarter. Delphi Management Inc. MA now owns 13,440 shares of the energy exploration company’s stock valued at $1,692,000 after purchasing an additional 140 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.