EOG Resources (NYSE:EOG) Price Target Cut to $145.00

EOG Resources (NYSE:EOG) had its price objective dropped by Evercore ISI from $150.00 to $145.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the energy exploration company’s stock. Evercore ISI’s target price suggests a potential upside of 14.24% from the stock’s previous close.

A number of other research firms also recently issued reports on EOG. Piper Sandler cut their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Morgan Stanley cut their price objective on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Scotiabank dropped their target price on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $147.00 price target on shares of EOG Resources in a report on Wednesday, July 10th. Fourteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $142.50.

EOG Resources Stock Performance

Shares of EOG stock opened at $126.93 on Monday. The company has a market capitalization of $72.95 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 3.27 and a beta of 1.28. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $124.91 and its 200-day simple moving average is $126.81.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 EPS. On average, sell-side analysts predict that EOG Resources will post 11.91 earnings per share for the current fiscal year.

Insider Buying and Selling at EOG Resources

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock worth $2,751,612 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in shares of EOG Resources in the second quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources during the 2nd quarter worth approximately $28,000. Gladius Capital Management LP bought a new stake in shares of EOG Resources during the second quarter valued at approximately $30,000. Triad Wealth Partners LLC acquired a new position in shares of EOG Resources in the second quarter valued at $35,000. Finally, Norwood Financial Corp bought a new position in EOG Resources in the first quarter worth $37,000. 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.