UBS Group Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price objective dropped by investment analysts at UBS Group from $168.00 to $158.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the energy exploration company’s stock. UBS Group’s price objective points to a potential upside of 22.88% from the company’s current price.

A number of other research analysts also recently weighed in on EOG. The Goldman Sachs Group lowered their price target on EOG Resources from $139.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday. Piper Sandler boosted their target price on shares of EOG Resources from $144.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Stephens cut their price target on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Morgan Stanley lowered their price target on EOG Resources from $160.00 to $156.00 and set an “equal weight” rating on the stock in a research report on Friday, June 26th. Finally, Royal Bank Of Canada upped their price target on shares of EOG Resources from $138.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.25.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $128.58 on Thursday. EOG Resources has a 52 week low of $101.59 and a 52 week high of $151.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The stock has a market cap of $68.48 billion, a PE ratio of 12.66 and a beta of 0.25. The company’s 50-day moving average price is $135.79 and its two-hundred day moving average price is $126.08.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.87 EPS. As a group, sell-side analysts anticipate that EOG Resources will post 16.31 EPS for the current fiscal year.

Hedge Funds Weigh In On EOG Resources

Several hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its holdings in shares of EOG Resources by 898.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company’s stock valued at $205,411,000 after buying an additional 1,278,555 shares during the last quarter. Franklin Resources Inc. lifted its holdings in EOG Resources by 24.2% during the 4th quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock worth $676,627,000 after purchasing an additional 1,257,110 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of EOG Resources by 70.5% during the fourth quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company’s stock worth $312,711,000 after buying an additional 1,231,366 shares in the last quarter. Marshall Wace LLP grew its position in shares of EOG Resources by 474.7% during the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock worth $138,430,000 after purchasing an additional 1,088,867 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in EOG Resources by 23.9% during the 4th quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock worth $490,394,000 after acquiring an additional 901,897 shares during the period. Institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

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.