EOG Resources (NYSE:EOG) Price Target Cut to $126.00 by Analysts at Wells Fargo & Company

EOG Resources (NYSE:EOG) had its target price decreased by stock analysts at Wells Fargo & Company from $127.00 to $126.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 16.10% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Susquehanna increased their price objective on EOG Resources from $156.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Raymond James Financial raised their price target on shares of EOG Resources from $158.00 to $161.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 22nd. Scotiabank reiterated a “sector perform” rating and issued a $130.00 price objective on shares of EOG Resources in a report on Friday, September 26th. Barclays set a $136.00 target price on EOG Resources and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, KeyCorp decreased their price target on EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $140.72.

EOG Resources Stock Up 1.8%

EOG traded up $1.96 on Tuesday, reaching $108.53. 463,635 shares of the company traded hands, compared to its average volume of 3,617,232. The company has a market cap of $59.25 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 8.20 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The stock’s 50 day moving average price is $111.99 and its 200-day moving average price is $115.58. EOG Resources has a 52-week low of $102.52 and a 52-week high of $138.18.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the business posted $2.89 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

Institutional Investors Weigh In On EOG Resources

Hedge funds have recently made changes to their positions in the stock. StrongBox Wealth LLC lifted its stake in EOG Resources by 1.9% during the 2nd quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company’s stock valued at $576,000 after acquiring an additional 88 shares during the period. ORG Partners LLC raised its holdings in shares of EOG Resources by 45.1% during the second quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock worth $34,000 after purchasing an additional 88 shares during the last quarter. Ameriflex Group Inc. lifted its position in EOG Resources by 31.6% during the second quarter. Ameriflex Group Inc. now owns 379 shares of the energy exploration company’s stock valued at $46,000 after purchasing an additional 91 shares during the period. Hemington Wealth Management boosted its holdings in EOG Resources by 7.2% in the third 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. Finally, Granite Harbor Advisors Inc. boosted its holdings in EOG Resources by 3.2% in the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company’s stock valued at $389,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.