EOG Resources (NYSE:EOG) Price Target Lowered to $135.00 at Wells Fargo & Company

EOG Resources (NYSE:EOG) had its price target cut by Wells Fargo & Company from $140.00 to $135.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.48% from the stock’s previous close.

Several other equities analysts have also weighed in on EOG. KeyCorp assumed coverage on EOG Resources in a report on Thursday, June 27th. They set an “overweight” rating and a $157.00 price objective for the company. Morgan Stanley reduced their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Evercore ISI reduced their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday. Wolfe Research assumed coverage on EOG Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, UBS Group reduced their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $142.50.

EOG Resources Stock Performance

Shares of EOG traded up $3.86 on Tuesday, reaching $126.79. 2,033,149 shares of the company’s stock traded hands, compared to its average volume of 3,225,599. 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 market cap of $72.87 billion, a PE ratio of 10.02, a PEG ratio of 3.27 and a beta of 1.28. The stock’s 50 day simple moving average is $124.87 and its two-hundred day simple moving average is $126.78. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources (NYSE:EOG) last issued its quarterly 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. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The company had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same period last year, the business posted $2.49 earnings per share. EOG Resources’s revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that EOG Resources will post 11.91 earnings per share for the current fiscal year.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the sale, 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. Over 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.

Institutional Investors Weigh In On EOG Resources

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of EOG Resources by 0.3% in the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock worth $6,938,635,000 after buying an additional 146,674 shares during the period. Capital Research Global Investors increased its holdings in shares of EOG Resources by 1.3% in 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 buying an additional 373,365 shares during the period. Capital World Investors increased its holdings in shares of EOG Resources by 5.4% in 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 buying an additional 1,361,538 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of EOG Resources by 2.2% in the second 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 period. Finally, Capital International Investors increased its holdings in shares of EOG Resources by 7.1% in the first 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 during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About EOG Resources

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.