Wolfe Research Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price target boosted by equities researchers at Wolfe Research from $140.00 to $152.00 in a research note issued to investors on Monday,MarketScreener reports. Wolfe Research’s price objective would indicate a potential upside of 14.43% from the stock’s previous close.

A number of other equities analysts have also commented on EOG. UBS Group raised their price target on shares of EOG Resources from $141.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Jefferies Financial Group increased their target price on shares of EOG Resources from $140.00 to $146.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. The Goldman Sachs Group lowered their target price on shares of EOG Resources from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Morgan Stanley set a $128.00 price target on shares of EOG Resources and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of EOG Resources in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average target price of $135.77.

EOG Resources Stock Performance

Shares of EOG traded up $1.42 during trading hours on Monday, hitting $132.83. The company had a trading volume of 746,025 shares, compared to its average volume of 5,202,989. The firm has a market cap of $71.26 billion, a price-to-earnings ratio of 14.58 and a beta of 0.44. The company has a quick ratio of 1.42, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $113.78 and a 200-day moving average of $112.08. EOG Resources has a 12 month low of $101.59 and a 12 month high of $134.00.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. EOG Resources’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.74 EPS. Equities analysts anticipate that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief operating officer owned 61,481 shares of the company’s stock, valued at approximately $7,685,125. This represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 7,774 shares of company stock valued at $945,895. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Hemington Wealth Management increased its stake in shares of EOG Resources by 7.2% in the 3rd quarter. Hemington Wealth Management now owns 1,383 shares of the energy exploration company’s stock valued at $155,000 after purchasing an additional 93 shares during the last quarter. Bollard Group LLC raised its stake in EOG Resources by 0.8% during the third quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company’s stock worth $1,317,000 after acquiring an additional 93 shares in the last quarter. apricus wealth LLC lifted its holdings in shares of EOG Resources by 5.0% in the third quarter. apricus wealth LLC now owns 2,002 shares of the energy exploration company’s stock worth $224,000 after acquiring an additional 95 shares during the last quarter. Sowell Financial Services LLC grew its holdings in shares of EOG Resources by 1.6% during the 3rd quarter. Sowell Financial Services LLC now owns 6,234 shares of the energy exploration company’s stock valued at $699,000 after purchasing an additional 96 shares during the last quarter. Finally, Hardy Reed LLC increased its holdings in shares of EOG Resources by 4.5% during the third quarter. Hardy Reed LLC now owns 2,267 shares of the energy exploration company’s stock worth $254,000 after buying an additional 97 shares in the last quarter. 89.91% of the stock is currently 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.