EOG Resources (NYSE:EOG) Price Target Lowered to $142.00 at Morgan Stanley

EOG Resources (NYSE:EOG) had its target price lowered by research analysts at Morgan Stanley from $143.00 to $142.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s target price would indicate a potential upside of 16.19% from the company’s current price.

EOG has been the topic of several other research reports. Citigroup boosted their price target on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Barclays dropped their target price on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $146.10.

EOG Resources Stock Up 1.4 %

EOG Resources stock opened at $122.21 on Monday. EOG Resources has a fifty-two week low of $115.40 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company has a market capitalization of $68.74 billion, a P/E ratio of 9.84, a PEG ratio of 3.58 and a beta of 1.27. The stock has a 50-day simple moving average of $129.34 and a 200-day simple moving average of $127.80.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. Equities research analysts expect that EOG Resources will post 11.47 earnings per share for the current year.

EOG Resources announced that its Board of Directors has approved a stock buyback program on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. DRW Securities LLC lifted its stake in shares of EOG Resources by 98.6% during the 3rd quarter. DRW Securities LLC now owns 26,838 shares of the energy exploration company’s stock worth $3,299,000 after purchasing an additional 13,324 shares during the period. Caprock Group LLC lifted its stake in shares of EOG Resources by 7.7% during the 3rd quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares during the period. World Investment Advisors LLC purchased a new position in shares of EOG Resources during the 3rd quarter worth $730,000. Mountain Lake Investment Management LLC purchased a new position in shares of EOG Resources during the 4th quarter worth $735,000. Finally, Oak Ridge Investments LLC lifted its stake in shares of EOG Resources by 5.9% during the 4th quarter. Oak Ridge Investments LLC now owns 41,274 shares of the energy exploration company’s stock worth $5,059,000 after purchasing an additional 2,311 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

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.