EOG Resources (NYSE:EOG) Price Target Lowered to $137.00 at Barclays

EOG Resources (NYSE:EOG) had its target price decreased by analysts at Barclays from $144.00 to $137.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy exploration company’s stock. Barclays‘s price objective points to a potential upside of 5.99% from the company’s current price.

Several other brokerages also recently issued reports on EOG. Bank of America reaffirmed a “buy” rating and set a $151.00 price target on shares of EOG Resources in a report on Friday, June 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $147.00 price objective on shares of EOG Resources in a research report on Wednesday, July 10th. Piper Sandler reduced their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Sanford C. Bernstein lowered their price target on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Finally, UBS Group cut their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Fourteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus price target of $142.15.

EOG Resources Stock Performance

Shares of EOG traded up $0.93 during midday trading on Thursday, reaching $129.26. The stock had a trading volume of 566,374 shares, compared to its average volume of 3,216,481. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $124.97 and a 200-day simple moving average of $126.82. The firm has a market cap of $74.29 billion, a PE ratio of 10.25, a P/E/G ratio of 3.27 and a beta of 1.28. EOG Resources has a one year low of $108.94 and a one year high of $139.67.

EOG Resources (NYSE:EOG) last posted its quarterly 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. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter last year, the company posted $2.49 earnings per share. EOG Resources’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that EOG Resources will post 11.91 EPS for the current year.

Insider Buying and Selling at EOG Resources

In other 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 completion of the transaction, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,537 shares of company stock valued at $2,751,612. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Large investors have recently bought and sold shares of the company. Capital World Investors increased its stake in shares of EOG Resources by 5.4% in the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after buying an additional 1,361,538 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in EOG Resources by 26.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock valued at $598,475,000 after acquiring an additional 1,029,727 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in EOG Resources in the 2nd quarter valued at approximately $106,990,000. Capital International Investors raised its stake in shares of EOG Resources by 7.1% during the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after acquiring an additional 766,056 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after purchasing an additional 403,676 shares during the period. 89.91% of the stock is currently owned by 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.