EOG Resources (NYSE:EOG) Price Target Cut to $136.00 by Analysts at Morgan Stanley

EOG Resources (NYSE:EOG) had its price objective cut by analysts at Morgan Stanley from $142.00 to $136.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target points to a potential upside of 7.47% from the stock’s previous close.

A number of other research firms also recently weighed in on EOG. Mizuho reaffirmed a “neutral” rating and set a $140.00 price target (down previously from $148.00) on shares of EOG Resources in a research note on Tuesday. Williams Trading set a $154.00 target price on EOG Resources in a research report on Wednesday, March 5th. Truist Financial increased their price target on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Barclays lowered their price objective on shares of EOG Resources from $146.00 to $144.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $144.67.

EOG Resources Stock Down 0.1 %

EOG stock opened at $126.55 on Thursday. The company’s 50 day moving average is $128.23 and its 200 day moving average is $127.65. The stock has a market cap of $70.10 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.58 and a beta of 1.25. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources has a 1-year low of $115.78 and a 1-year high of $139.67.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.96 billion. Sell-side analysts predict that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of EOG Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOG. Financial Life Planners purchased a new position in EOG Resources during the fourth quarter valued at $25,000. Y.D. More Investments Ltd raised its stake in shares of EOG Resources by 149.4% in the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock worth $25,000 after buying an additional 121 shares during the period. Mainstream Capital Management LLC purchased a new position in shares of EOG Resources during the 4th quarter valued at about $25,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources during the 4th quarter valued at approximately $27,000. Finally, Keystone Financial Group Inc. purchased a new stake in EOG Resources in the 4th quarter worth approximately $27,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.