EOG Resources (NYSE:EOG) Price Target Raised to $140.00 at BMO Capital Markets

EOG Resources (NYSE:EOG) had its target price increased by equities research analysts at BMO Capital Markets from $120.00 to $140.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the energy exploration company’s stock. BMO Capital Markets’ target price indicates a potential upside of 9.00% from the company’s previous close.

Other analysts have also issued research reports about the company. Roth Mkm reiterated a “neutral” rating and set a $110.00 target price on shares of EOG Resources in a report on Wednesday, February 25th. Stephens upped their price objective on EOG Resources from $138.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Wells Fargo & Company reissued an “overweight” rating and issued a $127.00 target price (up from $126.00) on shares of EOG Resources in a research note on Tuesday, January 27th. Sanford C. Bernstein restated a “market perform” rating and set a $126.00 target price (down from $144.00) on shares of EOG Resources in a report on Monday, January 5th. Finally, Morgan Stanley set a $128.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, EOG Resources has an average rating of “Hold” and an average target price of $135.85.

EOG Resources Stock Down 0.2%

EOG traded down $0.21 during trading hours on Tuesday, hitting $128.44. 897,257 shares of the company’s stock were exchanged, compared to its average volume of 5,048,610. EOG Resources has a 1-year low of $101.59 and a 1-year high of $131.32. The stock’s 50-day moving average is $111.71 and its two-hundred day moving average is $111.75. The stock has a market cap of $68.91 billion, a price-to-earnings ratio of 14.03 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.

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

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 2,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the transaction, the chief operating officer directly owned 61,481 shares of the company’s stock, valued at $7,685,125. This represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Cullen Capital Management LLC raised its stake in shares of EOG Resources by 4.7% during the 2nd quarter. Cullen Capital Management LLC now owns 576,470 shares of the energy exploration company’s stock valued at $68,952,000 after purchasing an additional 25,753 shares during the period. Rockland Trust Co. grew its holdings in EOG Resources by 5.1% during the 3rd quarter. Rockland Trust Co. now owns 246,326 shares of the energy exploration company’s stock valued at $27,618,000 after buying an additional 11,965 shares in the last quarter. Railway Pension Investments Ltd lifted its holdings in shares of EOG Resources by 6.9% in the second quarter. Railway Pension Investments Ltd now owns 449,100 shares of the energy exploration company’s stock worth $53,717,000 after buying an additional 28,800 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of EOG Resources by 1,413.5% in the third quarter. AlphaQuest LLC now owns 25,533 shares of the energy exploration company’s stock worth $2,863,000 after buying an additional 23,846 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of EOG Resources by 21.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,820 shares of the energy exploration company’s stock valued at $7,380,000 after acquiring an additional 11,442 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.