EOG Resources, Inc. (EOG) Lifted to Overweight at Morgan Stanley
Morgan Stanley upgraded shares of EOG Resources, Inc. (NYSE:EOG) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The firm currently has $106.00 target price on the energy exploration company’s stock, up from their prior target price of $97.00.
Several other research firms have also recently commented on EOG. Zacks Investment Research raised shares of EOG Resources from a sell rating to a hold rating in a research note on Monday, July 31st. BidaskClub raised shares of EOG Resources from a sell rating to a hold rating in a research note on Monday, July 31st. Jefferies Group LLC reissued a hold rating and set a $95.00 price target on shares of EOG Resources in a research note on Wednesday, May 17th. FBR & Co set a $122.00 price target on shares of EOG Resources and gave the company an outperform rating in a research note on Wednesday, May 17th. Finally, Scotiabank reissued a hold rating and set a $109.00 price target on shares of EOG Resources in a research note on Tuesday, May 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $108.38.
EOG Resources (EOG) traded up 1.00% during midday trading on Tuesday, reaching $92.70. The company’s stock had a trading volume of 1,861,115 shares. The firm has a 50-day moving average price of $88.01 and a 200 day moving average price of $91.82. The stock’s market capitalization is $53.53 billion. EOG Resources has a 52-week low of $81.99 and a 52-week high of $109.37.
EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). EOG Resources had a negative net margin of 2.88% and a negative return on equity of 0.68%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the company earned ($0.38) earnings per share. EOG Resources’s revenue for the quarter was up 47.1% compared to the same quarter last year. Equities research analysts predict that EOG Resources will post $0.60 EPS for the current fiscal year.
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In related news, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $88.22, for a total transaction of $352,880.00. Following the sale, the executive vice president now directly owns 70,987 shares in the company, valued at $6,262,473.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.
Large investors have recently modified their holdings of the stock. IHT Wealth Management LLC raised its holdings in shares of EOG Resources by 4.1% during the first quarter. IHT Wealth Management LLC now owns 1,039 shares of the energy exploration company’s stock worth $101,000 after acquiring an additional 41 shares during the period. Chicago Partners Investment Group LLC increased its stake in EOG Resources by 60.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,069 shares of the energy exploration company’s stock valued at $104,000 after buying an additional 401 shares during the last quarter. Advantage Investment Management LLC increased its stake in EOG Resources by 16.6% in the 1st quarter. Advantage Investment Management LLC now owns 1,080 shares of the energy exploration company’s stock valued at $105,000 after buying an additional 154 shares during the last quarter. Winfield Associates Inc. increased its stake in EOG Resources by 5.3% in the 1st quarter. Winfield Associates Inc. now owns 1,132 shares of the energy exploration company’s stock valued at $111,000 after buying an additional 57 shares during the last quarter. Finally, Exane Derivatives increased its stake in EOG Resources by 19.8% in the 2nd quarter. Exane Derivatives now owns 1,160 shares of the energy exploration company’s stock valued at $105,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 85.48% of the company’s stock.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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