EOG Resources (NYSE:EOG) Price Target Lowered to $176.00 at Raymond James Financial

EOG Resources (NYSE:EOG) had its price objective reduced by equities research analysts at Raymond James Financial from $186.00 to $176.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has a “strong-buy” rating on the energy exploration company’s stock. Raymond James Financial’s price objective indicates a potential upside of 35.31% from the stock’s current price.

A number of other research firms also recently commented on EOG. Susquehanna raised their price objective on EOG Resources from $144.00 to $162.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. DA Davidson boosted their price objective on shares of EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Scotiabank increased their price objective on shares of EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Finally, Zacks Research cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $156.00.

EOG Resources Stock Performance

EOG Resources stock opened at $130.07 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $69.28 billion, a P/E ratio of 12.91 and a beta of 0.25. The stock has a fifty day moving average price of $135.96 and a 200 day moving average price of $124.86. EOG Resources has a 52 week low of $101.59 and a 52 week high of $151.87.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. The company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.87 EPS. Equities research analysts anticipate that EOG Resources will post 16.63 earnings per share for the current year.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the sale, the chief operating officer directly owned 88,045 shares in the company, valued at $13,234,924.40. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its holdings in shares of EOG Resources by 898.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company’s stock worth $205,411,000 after purchasing an additional 1,278,555 shares during the period. Franklin Resources Inc. boosted its holdings in shares of EOG Resources by 24.2% in the 4th quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock valued at $676,627,000 after buying an additional 1,257,110 shares during the period. First Trust Advisors LP boosted its holdings in shares of EOG Resources by 70.5% in the 4th quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company’s stock valued at $312,711,000 after buying an additional 1,231,366 shares during the period. Marshall Wace LLP grew its position in shares of EOG Resources by 474.7% during the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock valued at $138,430,000 after buying an additional 1,088,867 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of EOG Resources by 23.9% during the 4th quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock valued at $490,394,000 after buying an additional 901,897 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.