Barclays Cuts EOG Resources (NYSE:EOG) Price Target to $133.00

EOG Resources (NYSE:EOG) had its price target lowered by analysts at Barclays from $136.00 to $133.00 in a research note issued on Wednesday, MarketBeat reports. The firm currently has an “equal weight” rating on the energy exploration company’s stock. Barclays‘s price objective points to a potential upside of 22.66% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. UBS Group reaffirmed a “buy” rating and issued a $141.00 target price (down from $144.00) on shares of EOG Resources in a research note on Friday, December 12th. Johnson Rice reduced their price objective on EOG Resources from $145.00 to $135.00 and set a “hold” rating for the company in a research report on Friday, December 5th. Evercore ISI lifted their target price on EOG Resources from $141.00 to $149.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. KeyCorp downgraded EOG Resources from an “overweight” rating to a “sector weight” rating in a research report on Friday, January 16th. Finally, Morgan Stanley raised their price target on shares of EOG Resources from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $136.89.

EOG Resources Stock Up 2.1%

Shares of EOG traded up $2.22 on Wednesday, hitting $108.43. The company’s stock had a trading volume of 510,880 shares, compared to its average volume of 3,846,582. The firm’s fifty day moving average price is $106.79 and its 200-day moving average price is $112.38. EOG Resources has a fifty-two week low of $101.59 and a fifty-two week high of $136.20. The company has a quick ratio of 1.43, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $58.83 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 8.50 and a beta of 0.49.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.48 billion. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.89 earnings per share. On average, equities research analysts expect that EOG Resources will post 11.47 EPS for the current year.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 2,000 shares of EOG Resources stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total transaction of $211,360.00. Following the completion of the sale, the chief operating officer owned 54,979 shares of the company’s stock, valued at approximately $5,810,180.72. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in EOG. Caitong International Asset Management Co. Ltd raised its position in EOG Resources by 10,950.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock valued at $26,000 after purchasing an additional 219 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of EOG Resources in the 2nd quarter valued at about $29,000. ORG Partners LLC boosted its holdings in EOG Resources by 45.1% in the second quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock valued at $34,000 after acquiring an additional 88 shares during the last quarter. JCIC Asset Management Inc. bought a new stake in shares of EOG Resources in the 3rd quarter valued at $32,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in EOG Resources during the 2nd quarter worth about $35,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.