EOG Resources (NYSE:EOG) Given New $132.00 Price Target at Morgan Stanley

EOG Resources (NYSE:EOG) had its price target increased by research analysts at Morgan Stanley from $131.00 to $132.00 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 objective points to a potential upside of 2.90% from the company’s previous close.

Other research analysts also recently issued reports about the company. Piper Sandler cut their target price on EOG Resources from $153.00 to $141.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a report on Monday, March 4th. Truist Financial cut their target price on EOG Resources from $172.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, February 26th. UBS Group dropped their price objective on EOG Resources from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Finally, Stifel Nicolaus dropped their price objective on EOG Resources from $163.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.20.

EOG Resources Price Performance

EOG Resources stock traded up $1.89 during mid-day trading on Thursday, reaching $128.28. 1,562,129 shares of the company were exchanged, compared to its average volume of 3,471,829. The company has a fifty day simple moving average of $116.01 and a 200-day simple moving average of $121.41. EOG Resources has a 12 month low of $106.32 and a 12 month high of $136.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.44 and a quick ratio of 2.13. The firm has a market cap of $74.40 billion, a PE ratio of 9.84 and a beta of 1.39.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($0.07). The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.30 EPS. As a group, equities research analysts expect that EOG Resources will post 11.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers grew its holdings in EOG Resources by 16.0% in the 1st quarter. Cetera Investment Advisers now owns 16,031 shares of the energy exploration company’s stock worth $1,911,000 after acquiring an additional 2,213 shares during the last quarter. Moors & Cabot Inc. bought a new stake in EOG Resources in the 1st quarter worth $404,000. Sequoia Financial Advisors LLC bought a new stake in shares of EOG Resources during the 1st quarter valued at about $278,000. Zions Bancorporation N.A. boosted its stake in shares of EOG Resources by 237.7% during the 1st quarter. Zions Bancorporation N.A. now owns 1,155 shares of the energy exploration company’s stock valued at $138,000 after purchasing an additional 813 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of EOG Resources by 23.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 662 shares of the energy exploration company’s stock valued at $79,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

About EOG Resources

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.