Morgan Stanley Lowers EOG Resources (NYSE:EOG) Price Target to $136.00

EOG Resources (NYSE:EOG) had its price target reduced by investment analysts at Morgan Stanley from $142.00 to $136.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target suggests a potential upside of 7.47% from the stock’s current price.

Several other research firms also recently issued reports on EOG. Wells Fargo & Company lowered their price objective on EOG Resources from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays cut their target price on EOG Resources from $146.00 to $144.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Williams Trading set a $154.00 price target on EOG Resources in a research note on Wednesday, March 5th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Finally, Bank of America reissued a “neutral” rating and set a $144.00 target price (down previously from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus target price of $144.67.

EOG Resources Stock Down 0.1 %

Shares of EOG opened at $126.55 on Thursday. The firm has a 50 day simple moving average of $128.23 and a two-hundred day simple moving average of $127.65. The company has a market cap of $70.10 billion, a P/E ratio of 10.19, a P/E/G ratio of 3.58 and a beta of 1.25. EOG Resources has a one year low of $115.78 and a one year high of $139.67. 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 data 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 business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. Research analysts forecast that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

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

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.