EOG Resources (NYSE:EOG) Cut to “Equal Weight” at Capital One Financial

EOG Resources (NYSE:EOG) was downgraded by research analysts at Capital One Financial from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday, MarketBeat.com reports. They currently have a $153.00 price target on the energy exploration company’s stock. Capital One Financial‘s target price indicates a potential upside of 4.15% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein decreased their price target on EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 20th. Mizuho set a $157.00 target price on shares of EOG Resources and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Stephens cut their target price on shares of EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average target price of $156.00.

EOG Resources Stock Down 2.2%

EOG opened at $146.90 on Wednesday. The company has a market cap of $77.05 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.56 and a beta of 0.25. The business’s 50-day moving average price is $139.41 and its 200-day moving average price is $135.70. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. EOG Resources has a 12 month low of $101.59 and a 12 month high of $153.67.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.EOG Resources’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.32 EPS. On average, equities analysts expect that EOG Resources will post 16.87 EPS for the current year.

Insider Activity at EOG Resources

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its holdings in EOG Resources by 1.3% in the 2nd quarter. HighTower Advisors LLC now owns 309,148 shares of the energy exploration company’s stock worth $40,106,000 after purchasing an additional 3,865 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of EOG Resources during the 2nd quarter valued at about $34,495,000. California State Teachers Retirement System boosted its stake in shares of EOG Resources by 12,810.7% during the 2nd quarter. California State Teachers Retirement System now owns 80,957,747 shares of the energy exploration company’s stock valued at $10,502,649,000 after purchasing an additional 80,330,686 shares in the last quarter. Wedmont Private Capital increased its position in shares of EOG Resources by 63.5% during the second quarter. Wedmont Private Capital now owns 7,657 shares of the energy exploration company’s stock valued at $1,027,000 after buying an additional 2,973 shares during the period. Finally, Insight Inv LLC increased its position in shares of EOG Resources by 2.4% during the second quarter. Insight Inv LLC now owns 24,077 shares of the energy exploration company’s stock valued at $3,124,000 after buying an additional 556 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.