EOG Resources (NYSE:EOG) Given New $176.00 Price Target at Raymond James Financial

EOG Resources (NYSE:EOG) had its price target cut by research analysts at Raymond James Financial from $186.00 to $176.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “strong-buy” rating on the energy exploration company’s stock. Raymond James Financial’s target price points to a potential upside of 35.31% from the stock’s current price.

A number of other research firms have also weighed in on EOG. Morgan Stanley raised their target price on shares of EOG Resources from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Williams Trading set a $177.00 price target on EOG Resources in a report on Monday, April 20th. The Goldman Sachs Group boosted their price target on shares of EOG Resources from $135.00 to $139.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Piper Sandler raised their price objective on shares of EOG Resources from $144.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Finally, Citigroup reaffirmed a “neutral” rating and set a $147.00 target price (up from $142.00) on shares of EOG Resources in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

EOG Resources Stock Up 0.1%

EOG stock opened at $130.07 on Monday. EOG Resources has a 52 week low of $101.59 and a 52 week high of $151.87. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $135.96 and a 200-day simple moving average of $124.86. The stock has a market capitalization of $69.28 billion, a P/E ratio of 12.91 and a beta of 0.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.EOG Resources’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.87 EPS. Equities analysts forecast that EOG Resources will post 16.63 earnings per share for the current fiscal year.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares of the company’s stock, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EOG. Acumen Wealth Advisors LLC purchased a new position in EOG Resources during the 4th quarter valued at about $25,000. SJS Investment Consulting Inc. increased its stake in EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after buying an additional 124 shares during the period. Prosperity Bancshares Inc purchased a new position in EOG Resources in the 4th quarter valued at approximately $26,000. Nemes Rush Group LLC acquired a new position in shares of EOG Resources in the fourth quarter worth $30,000. Finally, Financial Life Planners acquired a new stake in shares of EOG Resources in the first quarter valued at $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand?alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.