Wells Fargo & Company Lowers EOG Resources (NYSE:EOG) Price Target to $126.00

EOG Resources (NYSE:EOG) had its target price dropped by research analysts at Wells Fargo & Company from $127.00 to $126.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 15.94% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Roth Capital cut their target price on shares of EOG Resources from $126.00 to $114.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EOG Resources in a research report on Wednesday, October 8th. Melius Research assumed coverage on EOG Resources in a research note on Wednesday, August 20th. They set a “buy” rating and a $173.00 target price on the stock. Jefferies Financial Group set a $145.00 price target on EOG Resources in a research note on Sunday, October 12th. Finally, Mizuho lowered their price objective on EOG Resources from $140.00 to $133.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and a consensus target price of $140.72.

EOG Resources Price Performance

NYSE:EOG opened at $108.68 on Tuesday. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The firm has a market capitalization of $59.34 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 8.20 and a beta of 0.72. The stock’s 50 day moving average price is $111.41 and its two-hundred day moving average price is $115.50. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the business earned $2.89 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts anticipate that EOG Resources will post 11.47 earnings per share for the current year.

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. StrongBox Wealth LLC boosted its position in EOG Resources by 1.9% in the second quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company’s stock valued at $576,000 after buying an additional 88 shares in the last quarter. ORG Partners LLC lifted its stake in shares of EOG Resources by 45.1% in the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock valued at $34,000 after acquiring an additional 88 shares during the last quarter. Ameriflex Group Inc. boosted its holdings in shares of EOG Resources by 31.6% during the 2nd quarter. Ameriflex Group Inc. now owns 379 shares of the energy exploration company’s stock valued at $46,000 after acquiring an additional 91 shares in the last quarter. Hemington Wealth Management increased its holdings in EOG Resources by 7.2% in the 3rd quarter. Hemington Wealth Management now owns 1,383 shares of the energy exploration company’s stock worth $155,000 after purchasing an additional 93 shares in the last quarter. Finally, Granite Harbor Advisors Inc. grew its holdings in shares of EOG Resources by 3.2% during the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company’s stock worth $389,000 after purchasing an additional 94 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

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.