EOG Resources (NYSE:EOG) Price Target Lowered to $135.00 at Wells Fargo & Company

EOG Resources (NYSE:EOG) had its price objective dropped by analysts at Wells Fargo & Company from $140.00 to $135.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 6.48% from the company’s current price.

Other equities research analysts have also issued reports about the company. UBS Group reduced their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Scotiabank dropped their target price on shares of EOG Resources from $155.00 to $150.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Morgan Stanley dropped their target price on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Truist Financial dropped their target price on shares of EOG Resources from $130.00 to $115.00 and set a “hold” rating for the company in a report on Monday. Finally, StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Fourteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $142.50.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $3.86 during midday trading on Tuesday, hitting $126.79. The company had a trading volume of 2,033,149 shares, compared to its average volume of 3,225,599. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The company has a market cap of $72.87 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 3.27 and a beta of 1.28. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a fifty day moving average of $124.87 and a two-hundred day moving average of $126.78.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.98 by $0.18. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. EOG Resources’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 EPS. On average, equities research analysts expect that EOG Resources will post 11.91 EPS for the current fiscal year.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the sale, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the sale, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,537 shares of company stock valued at $2,751,612. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors have recently modified their holdings of the stock. Riverview Trust Co bought a new position in shares of EOG Resources during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new position in shares of EOG Resources during the second quarter valued at approximately $28,000. Gladius Capital Management LP bought a new position in shares of EOG Resources during the second quarter valued at approximately $30,000. Triad Wealth Partners LLC bought a new position in shares of EOG Resources during the second quarter valued at approximately $35,000. Finally, Norwood Financial Corp bought a new position in shares of EOG Resources during the first quarter valued at approximately $37,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.