EOG Resources (NYSE:EOG) Rating Lowered to “Hold” at Zacks Research

EOG Resources (NYSE:EOG) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other brokerages have also commented on EOG. BMO Capital Markets raised their price target on EOG Resources from $140.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Roth Mkm reissued a “neutral” rating and set a $136.00 target price on shares of EOG Resources in a research report on Wednesday, May 6th. Scotiabank raised their target price on shares of EOG Resources from $123.00 to $139.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Williams Trading set a $177.00 price objective on shares of EOG Resources in a research note on Monday, April 20th. Finally, Susquehanna increased their price objective on shares of EOG Resources from $144.00 to $162.00 and gave the company a “positive” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.39.

EOG Resources Price Performance

Shares of EOG stock opened at $134.52 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The company has a market capitalization of $71.65 billion, a P/E ratio of 13.24 and a beta of 0.27. The company’s 50-day simple moving average is $138.09 and its two-hundred day simple moving average is $121.67. EOG Resources has a one year low of $101.59 and a one year high of $151.87.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. The business had revenue of $6.92 billion for 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 revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.87 EPS. As a group, equities analysts anticipate that EOG Resources will post 15.67 EPS for the current year.

Insider Buying and Selling

In other news, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,230 shares of company stock worth $2,272,568. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources during the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. lifted its position in EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after acquiring an additional 124 shares during the last quarter. Prosperity Bancshares Inc acquired a new stake in EOG Resources in the fourth quarter worth about $26,000. Nemes Rush Group LLC acquired a new stake in EOG Resources in the fourth quarter worth about $30,000. Finally, Financial Life Planners acquired a new stake in EOG Resources in the first quarter worth about $30,000. Hedge funds and other institutional investors 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.