EOG Resources (NYSE:EOG) Price Target Cut to $134.00 by Analysts at Truist Financial

EOG Resources (NYSE:EOG) had its price target lowered by equities researchers at Truist Financial from $149.00 to $134.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the energy exploration company’s stock. Truist Financial’s target price would suggest a potential upside of 3.29% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Barclays boosted their price target on EOG Resources from $140.00 to $153.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. Sanford C. Bernstein dropped their price objective on EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a report on Wednesday, May 20th. Roth Mkm reiterated a “neutral” rating and issued a $136.00 price objective on shares of EOG Resources in a research report on Wednesday, May 6th. Mizuho set a $157.00 target price on EOG Resources and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, Williams Trading set a $177.00 target price on EOG Resources in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and an average price target of $154.75.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $129.74 on Wednesday. The company’s fifty day simple moving average is $135.80 and its two-hundred day simple moving average is $125.94. EOG Resources has a 12-month low of $101.59 and a 12-month high of $151.87. The firm has a market cap of $69.10 billion, a PE ratio of 12.77 and a beta of 0.25. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.87 earnings per share. As a group, equities analysts expect that EOG Resources will post 16.32 EPS for the current year.

Institutional Trading of EOG Resources

A number of hedge funds and other institutional investors have recently modified their holdings of EOG. Legal & General Group Plc grew its position in EOG Resources by 2.1% in the 3rd quarter. Legal & General Group Plc now owns 3,394,236 shares of the energy exploration company’s stock worth $380,562,000 after purchasing an additional 68,888 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of EOG Resources by 66.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company’s stock worth $2,073,000 after acquiring an additional 7,877 shares during the period. L2 Asset Management LLC increased its position in EOG Resources by 69.6% during the third quarter. L2 Asset Management LLC now owns 19,355 shares of the energy exploration company’s stock valued at $2,170,000 after acquiring an additional 7,940 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in EOG Resources by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company’s stock valued at $123,451,000 after acquiring an additional 24,984 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co lifted its holdings in EOG Resources by 39.2% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company’s stock valued at $9,136,000 after acquiring an additional 24,500 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.