EOG Resources (NYSE:EOG) PT Lowered to $140.00

EOG Resources (NYSE:EOG) had its price objective dropped by investment analysts at Scotiabank from $150.00 to $140.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the energy exploration company’s stock. Scotiabank’s price objective would suggest a potential upside of 6.17% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Susquehanna reduced their price target on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Sanford C. Bernstein cut their price target on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $147.00 price objective on shares of EOG Resources in a report on Wednesday, July 10th. Evercore ISI dropped their target price on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, Piper Sandler reduced their price target on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Fourteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $141.65.

EOG Resources Stock Performance

Shares of NYSE EOG traded up $0.91 during midday trading on Thursday, hitting $131.87. The company’s stock had a trading volume of 581,267 shares, compared to its average volume of 3,200,703. The firm has a market capitalization of $75.79 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 3.27 and a beta of 1.28. The stock has a fifty day moving average price of $125.51 and a 200 day moving average price of $127.06. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm 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 firm earned $2.49 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that EOG Resources will post 11.91 EPS for the current fiscal year.

Insider Activity

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 transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,537 shares of company stock valued at $2,751,612 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Riverview Trust Co bought a new position in shares of EOG Resources in the second quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources during the second quarter valued at approximately $28,000. Gladius Capital Management LP bought a new stake in EOG Resources during the 2nd quarter valued at $30,000. Triad Wealth Partners LLC bought a new stake in shares of EOG Resources in the second quarter valued at about $35,000. Finally, Norwood Financial Corp bought a new position in shares of EOG Resources during the first quarter valued at approximately $37,000. 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.