EOG Resources (NYSE:EOG) Stock Price Expected to Rise, Morgan Stanley Analyst Says

EOG Resources (NYSE:EOG) had its target price raised by equities researchers at Morgan Stanley from $131.00 to $132.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.77% from the company’s current price.

Several other equities analysts also recently weighed in on EOG. Mizuho decreased their price target on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Citigroup decreased their price target on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Susquehanna decreased their price target on shares of EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $150.00 to $155.00 in a research note on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.79.

EOG Resources Stock Performance

EOG opened at $110.22 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a market cap of $60.15 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 3.58 and a beta of 0.78. EOG Resources has a 52-week low of $102.52 and a 52-week high of $138.18. The firm’s fifty day simple moving average is $114.71 and its two-hundred day simple moving average is $123.91.

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

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction dated Tuesday, April 1st. The shares were 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 in the company, valued at $6,098,240.32. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of EOG Resources by 0.7% during the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company’s stock valued at $6,922,633,000 after acquiring an additional 348,895 shares during the last quarter. Capital World Investors grew its holdings in shares of EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after purchasing an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock valued at $2,485,402,000 after purchasing an additional 1,188,552 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of EOG Resources by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock valued at $1,541,282,000 after purchasing an additional 234,067 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock valued at $779,433,000 after purchasing an additional 358,916 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.