BMO Capital Markets Cuts EOG Resources (NYSE:EOG) Price Target to $120.00

EOG Resources (NYSE:EOG) had its target price decreased by research analysts at BMO Capital Markets from $126.00 to $120.00 in a research note issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the energy exploration company’s stock. BMO Capital Markets’ price target indicates a potential upside of 11.04% from the company’s current price.

A number of other equities research analysts have also issued reports on EOG. Citigroup reaffirmed a “neutral” rating and issued a $115.00 price target (down previously from $125.00) on shares of EOG Resources in a research report on Wednesday, December 17th. JPMorgan Chase & Co. reduced their target price on shares of EOG Resources from $131.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Morgan Stanley lifted their price target on shares of EOG Resources from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 20th. Jefferies Financial Group set a $140.00 price target on shares of EOG Resources in a report on Wednesday. Finally, Wolfe Research reduced their price objective on shares of EOG Resources from $138.00 to $134.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.25.

EOG Resources Trading Down 2.4%

Shares of EOG stock traded down $2.67 on Monday, hitting $108.07. The stock had a trading volume of 4,637,524 shares, compared to its average volume of 3,909,484. The company’s 50 day moving average price is $106.81 and its 200-day moving average price is $112.91. EOG Resources has a 1 year low of $101.59 and a 1 year high of $138.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 1.43. The firm has a market capitalization of $58.64 billion, a P/E ratio of 10.76, a P/E/G ratio of 8.53 and a beta of 0.49.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.42 by $0.29. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the firm posted $2.89 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts anticipate that EOG Resources will post 11.47 earnings per share for the current year.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total value of $211,360.00. Following the completion of the sale, the chief operating officer owned 54,979 shares in the company, valued at approximately $5,810,180.72. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds have recently modified their holdings of EOG. Fiduciary Alliance LLC grew its position in EOG Resources by 1.7% during the 2nd quarter. Fiduciary Alliance LLC now owns 6,334 shares of the energy exploration company’s stock worth $758,000 after purchasing an additional 108 shares during the last quarter. Balefire LLC boosted its stake in shares of EOG Resources by 33.4% during the second quarter. Balefire LLC now owns 4,758 shares of the energy exploration company’s stock worth $569,000 after buying an additional 1,192 shares during the period. Gateway Investment Advisers LLC grew its holdings in shares of EOG Resources by 44.5% during the second quarter. Gateway Investment Advisers LLC now owns 10,661 shares of the energy exploration company’s stock worth $1,275,000 after buying an additional 3,284 shares during the last quarter. Pallas Capital Advisors LLC increased its position in EOG Resources by 38.2% in the 2nd quarter. Pallas Capital Advisors LLC now owns 4,446 shares of the energy exploration company’s stock valued at $532,000 after acquiring an additional 1,230 shares during the period. Finally, Pines Wealth Management LLC acquired a new position in EOG Resources in the 2nd quarter valued at about $278,000. 89.91% of the stock is currently 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.