EOG Resources (NYSE:EOG) Price Target Raised to $148.00

EOG Resources (NYSE:EOG) had its price objective hoisted by analysts at Raymond James from $140.00 to $148.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the energy exploration company’s stock. Raymond James’ price target suggests a potential upside of 30.41% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. UBS Group cut their target price on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Mizuho dropped their target price on EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada upgraded shares of EOG Resources from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $150.00 to $155.00 in a research note on Wednesday, February 12th. Susquehanna reduced their price target on EOG Resources from $161.00 to $156.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Finally, StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.05.

EOG Resources Stock Down 0.4%

Shares of EOG stock traded down $0.47 on Tuesday, hitting $113.49. The stock had a trading volume of 242,467 shares, compared to its average volume of 3,283,133. EOG Resources has a 52-week low of $102.52 and a 52-week high of $138.18. The firm has a market capitalization of $61.94 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 3.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The stock’s 50 day moving average is $115.64 and its 200-day moving average is $124.27.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company’s revenue was down 7.4% on a year-over-year basis. During the same period last year, the firm earned $2.82 earnings per share. As a group, research analysts expect that EOG Resources will post 11.47 earnings per share for the current year.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This trade represents a 7.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd boosted its holdings in EOG Resources by 0.8% in the first quarter. Plato Investment Management Ltd now owns 35,327 shares of the energy exploration company’s stock worth $4,579,000 after purchasing an additional 263 shares in the last quarter. Advisory Alpha LLC boosted its stake in shares of EOG Resources by 34.5% during the 1st quarter. Advisory Alpha LLC now owns 3,429 shares of the energy exploration company’s stock worth $440,000 after acquiring an additional 880 shares in the last quarter. Bayforest Capital Ltd increased its holdings in shares of EOG Resources by 275.9% during the 1st quarter. Bayforest Capital Ltd now owns 3,804 shares of the energy exploration company’s stock valued at $488,000 after acquiring an additional 2,792 shares during the last quarter. SCS Capital Management LLC bought a new position in shares of EOG Resources in the 1st quarter valued at approximately $1,635,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in EOG Resources by 2.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,926,271 shares of the energy exploration company’s stock worth $375,265,000 after purchasing an additional 77,637 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

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.