Wells Fargo & Company Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its target price lowered by stock analysts at Wells Fargo & Company from $150.00 to $146.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 17.71% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Barclays reduced their price target on shares of EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Benchmark restated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Citigroup cut shares of EOG Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. Finally, UBS Group reduced their target price on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $145.86.

EOG Resources Stock Up 2.4 %

EOG Resources stock opened at $124.04 on Thursday. The company’s 50 day simple moving average is $129.55 and its 200 day simple moving average is $127.62. EOG Resources has a fifty-two week low of $115.78 and a fifty-two week high of $139.67. The firm has a market capitalization of $68.71 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 3.58 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. As a group, sell-side analysts anticipate that EOG Resources will post 11.47 EPS for the current year.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently made changes to their positions in the stock. Financial Life Planners bought a new position in EOG Resources in the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd increased its stake in shares of EOG Resources by 149.4% in the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 121 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in EOG Resources in the 4th quarter valued at $25,000. Decker Retirement Planning Inc. acquired a new stake in EOG Resources in the 4th quarter valued at $27,000. Finally, Keystone Financial Group Inc. purchased a new position in EOG Resources during the 4th quarter worth $27,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.