UBS Group Cuts EOG Resources (NYSE:EOG) Price Target to $158.00

EOG Resources (NYSE:EOG) had its target price dropped by equities research analysts at UBS Group from $168.00 to $158.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the energy exploration company’s stock. UBS Group’s price objective suggests a potential upside of 22.88% from the stock’s current price.

A number of other research analysts also recently weighed in on EOG. Raymond James Financial dropped their price target on EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a research note on Monday, June 22nd. The Goldman Sachs Group reduced their target price on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday. DA Davidson boosted their target price on shares of EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Sanford C. Bernstein reduced their price target on EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.25.

EOG Resources Stock Down 0.9%

EOG Resources stock opened at $128.58 on Thursday. EOG Resources has a 52-week low of $101.59 and a 52-week high of $151.87. The firm has a 50 day moving average price of $135.79 and a two-hundred day moving average price of $126.08. The firm has a market cap of $68.48 billion, a price-to-earnings ratio of 12.66 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the prior year, the firm posted $2.87 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts predict that EOG Resources will post 16.31 EPS for the current year.

Institutional Investors Weigh In On EOG Resources

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

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.