Piper Sandler Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG) had its price target hoisted by analysts at Piper Sandler from $123.00 to $127.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the energy exploration company’s stock. Piper Sandler’s price objective indicates a potential downside of 3.60% from the company’s current price.

Several other research firms have also recently commented on EOG. Citigroup restated a “neutral” rating and set a $115.00 price target (down from $125.00) on shares of EOG Resources in a report on Wednesday, December 17th. BMO Capital Markets upped their price objective on shares of EOG Resources from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company reiterated an “overweight” rating and issued a $127.00 target price (up from $126.00) on shares of EOG Resources in a research report on Tuesday, January 27th. Roth Mkm reissued a “neutral” rating and set a $110.00 target price on shares of EOG Resources in a research note on Wednesday, February 25th. Finally, Stephens boosted their price target on shares of EOG Resources from $138.00 to $139.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus price target of $135.31.

EOG Resources Stock Up 0.5%

Shares of EOG Resources stock opened at $131.74 on Thursday. The stock has a 50-day moving average price of $113.78 and a 200 day moving average price of $112.16. The company has a market cap of $70.68 billion, a P/E ratio of 14.46 and a beta of 0.44. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.27. EOG Resources has a 1 year low of $101.59 and a 1 year high of $134.00.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The firm had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period last year, the company posted $2.74 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 2,000 shares of EOG Resources stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the sale, the chief operating officer directly owned 61,481 shares in the company, valued at $7,685,125. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 7,774 shares of company stock worth $945,895 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EOG. Sivia Capital Partners LLC bought a new stake in EOG Resources in the second quarter worth $258,000. GPS Wealth Strategies Group LLC raised its holdings in EOG Resources by 16.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,317 shares of the energy exploration company’s stock valued at $158,000 after buying an additional 189 shares in the last quarter. Simmons Bank lifted its position in shares of EOG Resources by 7.4% in the second quarter. Simmons Bank now owns 11,126 shares of the energy exploration company’s stock worth $1,331,000 after buying an additional 771 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of EOG Resources by 4.9% in the second quarter. First Horizon Advisors Inc. now owns 2,748 shares of the energy exploration company’s stock worth $329,000 after buying an additional 128 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in shares of EOG Resources during the 2nd quarter worth about $455,000. Institutional investors and hedge funds 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.