EOG Resources’ (EOG) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

EOG Resources (NYSE:EOG)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Monday, Benzinga reports. They presently have a $145.00 price target on the energy exploration company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 13.92% from the company’s previous close.

Other equities research analysts also recently 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 report on Wednesday, September 18th. Morgan Stanley reduced their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company lowered their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. KeyCorp started coverage on shares of EOG Resources in a research report on Thursday, June 27th. They issued an “overweight” rating and a $157.00 target price for the company. Finally, Wolfe Research assumed coverage on EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Fourteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average price target of $141.55.

EOG Resources Stock Down 3.2 %

NYSE:EOG opened at $127.28 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The firm has a market cap of $73.15 billion, a P/E ratio of 10.05, a P/E/G ratio of 3.38 and a beta of 1.28. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a 50-day simple moving average of $126.15 and a two-hundred day simple moving average of $127.17.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18. The company had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 earnings per share. Analysts predict that EOG Resources will post 11.83 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s 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 transaction, the chief operating officer now owns 35,058 shares of the company’s stock, valued at approximately $4,434,135.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,537 shares of company stock worth $2,751,612 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently made changes to their positions in EOG. Kapitalo Investimentos Ltda increased its stake in EOG Resources by 183.6% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 5,045 shares of the energy exploration company’s stock worth $620,000 after acquiring an additional 3,266 shares during the last quarter. Petredis Investment Advisors LLC increased its position in EOG Resources by 0.3% in the third quarter. Petredis Investment Advisors LLC now owns 48,483 shares of the energy exploration company’s stock worth $5,960,000 after purchasing an additional 140 shares during the last quarter. Magnus Financial Group LLC raised its stake in EOG Resources by 5.3% during the third quarter. Magnus Financial Group LLC now owns 2,973 shares of the energy exploration company’s stock valued at $366,000 after purchasing an additional 149 shares in the last quarter. Lockerman Financial Group Inc. raised its stake in EOG Resources by 11.6% during the third quarter. Lockerman Financial Group Inc. now owns 2,372 shares of the energy exploration company’s stock valued at $292,000 after purchasing an additional 247 shares in the last quarter. Finally, Swedbank AB lifted its position in EOG Resources by 132.0% during the third quarter. Swedbank AB now owns 223,432 shares of the energy exploration company’s stock valued at $27,466,000 after purchasing an additional 127,126 shares during the last quarter. 89.91% of the stock is currently 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.