Investors Sell EOG Resources (EOG) on Strength Following Analyst Downgrade
Traders sold shares of EOG Resources Inc (NYSE:EOG) on strength during trading on Wednesday after Morgan Stanley lowered their price target on the stock from $133.00 to $118.00. $91.62 million flowed into the stock on the tick-up and $167.14 million flowed out of the stock on the tick-down, for a money net flow of $75.52 million out of the stock. Of all stocks tracked, EOG Resources had the 8th highest net out-flow for the day. EOG Resources traded up $3.64 for the day and closed at $106.00
Several other analysts have also issued reports on EOG. Mizuho initiated coverage on EOG Resources in a report on Monday, July 23rd. They set a “buy” rating and a $173.00 target price on the stock. Zacks Investment Research lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Stephens set a $122.00 target price on EOG Resources and gave the stock a “hold” rating in a report on Wednesday, July 25th. Stifel Nicolaus set a $147.00 target price on EOG Resources and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, TD Securities upped their target price on EOG Resources from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $137.61.
In related news, Director Charles R. Crisp sold 1,792 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $116.80, for a total transaction of $209,305.60. Following the sale, the director now owns 49,741 shares of the company’s stock, valued at $5,809,748.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David W. Trice sold 2,489 shares of the stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $127.44, for a total value of $317,198.16. Following the sale, the executive vice president now directly owns 74,807 shares in the company, valued at approximately $9,533,404.08. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
The company has a market capitalization of $61.30 billion, a price-to-earnings ratio of 94.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.09 and a quick ratio of 0.92.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, November 2nd. The energy exploration company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.19. EOG Resources had a return on equity of 16.79% and a net margin of 30.90%. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the prior year, the company earned $0.19 EPS. EOG Resources’s revenue was up 80.8% compared to the same quarter last year. As a group, equities analysts forecast that EOG Resources Inc will post 5.97 EPS for the current fiscal year.
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EOG Resources Company Profile (NYSE:EOG)
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.
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