EOG Resources (NYSE:EOG) Price Target Raised to $190.00

EOG Resources (NYSE:EOG) had its price objective lifted by stock analysts at UBS Group from $186.00 to $190.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the energy exploration company’s stock. UBS Group‘s price target suggests a potential upside of 28.18% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Wall Street Zen raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Zacks Research upgraded shares of EOG Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a report on Thursday, August 13th. Susquehanna lifted their target price on EOG Resources from $170.00 to $187.00 and gave the company a “positive” rating in a research note on Tuesday, October 20th. Finally, Truist Financial set a $166.00 target price on shares of EOG Resources and gave the stock a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $161.96.

EOG Resources Trading Up 0.7%

Shares of NYSE EOG traded up $1.10 during mid-day trading on Monday, reaching $148.23. 5,730,903 shares of the company’s stock were exchanged, compared to its average volume of 3,972,604. The firm has a market capitalization of $77.75 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 0.52 and a beta of 0.27. EOG Resources has a 52-week low of $101.59 and a 52-week high of $165.93. The company’s 50-day moving average is $149.32 and its 200-day moving average is $137.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.74 and a current ratio of 1.90.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, November 5th. The energy exploration company reported $4.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.45 by $0.42. EOG Resources had a return on equity of 26.32% and a net margin of 27.54%. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same quarter in the previous year, the company earned $2.71 earnings per share. The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. Analysts expect that EOG Resources will post 17.72 EPS for the current fiscal year.

Insider Buying and Selling

In other EOG Resources news, EVP Michael Donaldson sold 7,336 shares of EOG Resources stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares in the company, valued at $14,882,584. The trade was a 6.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ezra Yacob sold 35,942 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the sale, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 52,317 shares of company stock worth $7,823,480. 0.14% of the stock is owned by company insiders.

Institutional Trading of EOG Resources

A number of hedge funds have recently made changes to their positions in the stock. Byrne Asset Management LLC lifted its holdings in shares of EOG Resources by 469.4% in the 3rd quarter. Byrne Asset Management LLC now owns 205 shares of the energy exploration company’s stock worth $29,000 after purchasing an additional 169 shares during the last quarter. Elevated Capital Advisors LLC bought a new position in EOG Resources in the 3rd quarter valued at about $30,000. Wedbush Fund Advisers LLC acquired a new position in shares of EOG Resources during the second quarter valued at approximately $31,000. Global Assets Advisory LLC acquired a new position in shares of EOG Resources during the 1st quarter valued at $37,000. Finally, Main Street Group LTD bought a new position in EOG Resources during the first quarter valued at about $38,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations.

The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.

Founded in 1985 as Enron Oil & Gas, the company became independent in 1999 and adopted the name EOG Resources.