EOG Resources (NYSE:EOG) Stock Gets Price Target Increase from Morgan Stanley

EOG Resources (NYSE:EOG) had its target price increased by analysts at Morgan Stanley from $157.00 to $163.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target indicates a potential upside of 6.46% from the company’s previous close.

Other analysts have also issued research reports about the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $186.00 price objective (up from $183.00) on shares of EOG Resources in a research note on Thursday, September 17th. Mizuho set a $165.00 target price on shares of EOG Resources in a research note on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a report on Monday, August 24th. Capital One Financial lowered shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price target for the company. in a report on Wednesday, August 26th. Finally, UBS Group reaffirmed a “buy” rating and set a $186.00 price target (up from $183.00) on shares of EOG Resources in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $160.56.

EOG Resources Stock Down 0.7%

EOG Resources stock traded down $1.07 during midday trading on Thursday, hitting $153.12. 814,348 shares of the company were exchanged, compared to its average volume of 4,034,863. The company’s fifty day moving average price is $145.19 and its 200-day moving average price is $140.14. The company has a market cap of $80.31 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.56 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. EOG Resources has a fifty-two week low of $101.59 and a fifty-two week high of $155.00.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. The firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. EOG Resources’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 EPS. On average, research analysts predict that EOG Resources will post 17.13 EPS for the current fiscal year.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 9,039 shares of the stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the transaction, the chief operating officer owned 90,790 shares of the company’s stock, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,317 shares of company stock worth $7,823,480 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Summitry LLC grew its holdings in EOG Resources by 1.5% during the 1st quarter. Summitry LLC now owns 4,832 shares of the energy exploration company’s stock worth $699,000 after acquiring an additional 73 shares in the last quarter. Twin Capital Management Inc. increased its position in shares of EOG Resources by 0.3% in the 1st quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company’s stock worth $3,467,000 after purchasing an additional 79 shares during the last quarter. Sax Wealth Advisors LLC raised its stake in shares of EOG Resources by 2.8% in the 2nd quarter. Sax Wealth Advisors LLC now owns 2,907 shares of the energy exploration company’s stock valued at $377,000 after purchasing an additional 79 shares in the last quarter. Paladin Wealth LLC raised its stake in shares of EOG Resources by 5.3% in the 2nd quarter. Paladin Wealth LLC now owns 1,593 shares of the energy exploration company’s stock valued at $207,000 after purchasing an additional 80 shares in the last quarter. Finally, Hardy Reed LLC raised its stake in shares of EOG Resources by 3.8% in the 1st quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company’s stock valued at $325,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG’s principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.