JPMorgan Chase & Co. Cuts EOG Resources (NYSE:EOG) Price Target to $115.00

EOG Resources (NYSE:EOG) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $121.00 to $115.00 in a research note issued to investors on Friday,MarketScreener reports. The firm presently has a “neutral” rating on the energy exploration company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.54% from the company’s current price.

Several other brokerages also recently weighed in on EOG. Johnson Rice reduced their price target on EOG Resources from $145.00 to $135.00 and set a “hold” rating on the stock in a report on Friday, December 5th. The Goldman Sachs Group reduced their target price on EOG Resources from $125.00 to $123.00 and set a “neutral” rating on the stock in a research note on Thursday. Mizuho set a $134.00 target price on shares of EOG Resources and gave the company a “neutral” rating in a research note on Friday, December 12th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $126.00 price target (down previously from $144.00) on shares of EOG Resources in a research note on Monday, January 5th. Finally, Royal Bank Of Canada set a $138.00 price objective on shares of EOG Resources and gave the company an “outperform” rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $135.26.

EOG Resources Trading Up 1.5%

Shares of EOG Resources stock traded up $1.62 on Friday, reaching $107.94. The company had a trading volume of 522,111 shares, compared to its average volume of 4,016,203. The firm has a market cap of $58.57 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 8.97 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 1.43. The firm’s 50-day moving average price is $106.72 and its two-hundred day moving average price is $112.31. EOG Resources has a 1 year low of $101.59 and a 1 year high of $135.87.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period last year, the company earned $2.89 earnings per share. EOG Resources’s revenue was down 2.0% on a year-over-year basis. As a group, research analysts predict that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $105.68, for a total transaction of $211,360.00. Following the sale, the chief operating officer owned 54,979 shares of the company’s stock, valued at $5,810,180.72. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

Institutional Trading of EOG Resources

Several hedge funds have recently modified their holdings of EOG. Cullen Capital Management LLC lifted its holdings in shares of EOG Resources by 4.7% during the 2nd quarter. Cullen Capital Management LLC now owns 576,470 shares of the energy exploration company’s stock valued at $68,952,000 after purchasing an additional 25,753 shares during the last quarter. Kiker Wealth Management LLC acquired a new position in EOG Resources during the 2nd quarter valued at about $627,000. Railway Pension Investments Ltd raised its stake in EOG Resources by 6.9% in the second quarter. Railway Pension Investments Ltd now owns 449,100 shares of the energy exploration company’s stock valued at $53,717,000 after buying an additional 28,800 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of EOG Resources by 9.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 61,742 shares of the energy exploration company’s stock worth $7,386,000 after acquiring an additional 5,156 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of EOG Resources by 11.1% during the third quarter. Nisa Investment Advisors LLC now owns 172,617 shares of the energy exploration company’s stock valued at $19,354,000 after acquiring an additional 17,195 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.