JPMorgan Chase & Co. Trims EOG Resources (NYSE:EOG) Target Price to $135.00

EOG Resources (NYSE:EOG) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $143.00 to $135.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the energy exploration company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 13.09% from the stock’s current price.

A number of other brokerages have also recently weighed in on EOG. KeyCorp assumed coverage on EOG Resources in a research note on Thursday, June 27th. They set an “overweight” rating and a $157.00 price objective for the company. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Scotiabank decreased their price target on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. UBS Group increased their price target on EOG Resources from $166.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Sanford C. Bernstein decreased their price target on EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $143.63.

EOG Resources Stock Up 1.0 %

Shares of NYSE EOG opened at $119.37 on Thursday. 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 $67.87 billion, a P/E ratio of 9.43, a PEG ratio of 2.95 and a beta of 1.28. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The firm has a 50-day simple moving average of $125.93 and a two-hundred day simple moving average of $126.17.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $2.49 earnings per share. Research analysts anticipate that EOG Resources will post 12.2 earnings per share for the current year.

Insider Activity

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The disclosure for this sale can be found here. In the last three months, 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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in EOG Resources during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources during the 2nd quarter valued at approximately $28,000. Gladius Capital Management LP acquired a new stake in shares of EOG Resources during the 2nd quarter valued at approximately $30,000. Sachetta LLC acquired a new stake in shares of EOG Resources during the 4th quarter valued at approximately $33,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of EOG Resources during the 2nd quarter valued at approximately $35,000. 89.91% of the stock is owned by institutional investors and hedge funds.

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.