EOG Resources, Inc. (EOG) Lifted to Overweight at Morgan Stanley

EOG Resources, Inc. (NYSE:EOG) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday.

Several other analysts have also recently commented on EOG. Scotiabank restated a “hold” rating and issued a $109.00 target price on shares of EOG Resources in a research note on Tuesday, May 16th. FBR & Co set a $122.00 target price on shares of EOG Resources and gave the stock an “outperform” rating in a research note on Wednesday, May 17th. Jefferies Group LLC restated a “hold” rating and issued a $95.00 target price on shares of EOG Resources in a research note on Wednesday, May 17th. Stifel Nicolaus restated a “buy” rating and issued a $111.00 target price on shares of EOG Resources in a research note on Friday, May 26th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $114.00 target price on shares of EOG Resources in a research note on Wednesday, May 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $108.48.

Shares of EOG Resources (NYSE:EOG) traded up 0.61% on Tuesday, hitting $88.47. 2,922,918 shares of the company traded hands. The company’s market capitalization is $51.09 billion. EOG Resources has a 12 month low of $81.99 and a 12 month high of $109.37. The stock’s 50-day moving average price is $88.34 and its 200-day moving average price is $91.88.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). EOG Resources had a negative return on equity of 0.68% and a negative net margin of 2.88%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the business posted ($0.38) EPS. The firm’s revenue was up 47.1% on a year-over-year basis. On average, equities analysts predict that EOG Resources will post $0.60 earnings per share for the current year.

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In other EOG Resources news, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $88.22, for a total transaction of $352,880.00. Following the sale, the executive vice president now directly owns 70,987 shares of the company’s stock, valued at approximately $6,262,473.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its stake in shares of EOG Resources by 14.7% during the 2nd quarter. Capital Research Global Investors now owns 41,839,695 shares of the energy exploration company’s stock worth $3,787,329,000 after purchasing an additional 5,368,941 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of EOG Resources by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 41,179,515 shares of the energy exploration company’s stock worth $3,727,570,000 after purchasing an additional 1,058,276 shares during the last quarter. BlackRock Inc. boosted its stake in shares of EOG Resources by 2,098.0% during the 1st quarter. BlackRock Inc. now owns 35,740,352 shares of the energy exploration company’s stock worth $3,486,473,000 after purchasing an additional 34,114,299 shares during the last quarter. Capital World Investors boosted its stake in shares of EOG Resources by 9.9% during the 2nd quarter. Capital World Investors now owns 17,461,968 shares of the energy exploration company’s stock worth $1,580,657,000 after purchasing an additional 1,568,085 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of EOG Resources by 8.7% during the 2nd quarter. Northern Trust Corp now owns 8,001,255 shares of the energy exploration company’s stock worth $724,272,000 after purchasing an additional 638,183 shares during the last quarter. 85.48% of the stock is currently owned by institutional investors.

About EOG Resources

EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.

Analyst Recommendations for EOG Resources (NYSE:EOG)

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