EOG Resources (NYSE:EOG) PT Lowered to $164.00 at Piper Sandler

EOG Resources (NYSE:EOG – Get Rating) had its target price reduced by Piper Sandler to $164.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The firm presently has a “na” rating on the energy exploration company’s stock. Piper Sandler’s price target would indicate a potential upside of 35.64% from the company’s previous close.

Several other research firms also recently commented on EOG. Wells Fargo & Company lifted their price objective on EOG Resources from $113.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. Credit Suisse Group boosted their price target on EOG Resources from $110.00 to $122.00 and gave the company an “outperform” rating in a report on Friday, February 25th. Truist Financial boosted their price target on EOG Resources from $150.00 to $178.00 in a report on Thursday, April 21st. Susquehanna Bancshares boosted their price target on EOG Resources from $135.00 to $147.00 in a report on Monday, April 25th. Finally, TD Securities downgraded EOG Resources from a “buy” rating to a “hold” rating and boosted their price target for the company from $130.00 to $140.00 in a report on Thursday, March 24th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $132.22.

NYSE EOG traded down $6.51 during trading hours on Wednesday, reaching $120.91. 164,124 shares of the stock traded hands, compared to its average volume of 4,147,469. The stock has a 50 day simple moving average of $120.24 and a two-hundred day simple moving average of $106.73. EOG Resources has a 1 year low of $62.81 and a 1 year high of $132.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.26. The company has a market cap of $70.82 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 0.26 and a beta of 1.68.

EOG Resources (NYSE:EOG – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The energy exploration company reported $4.00 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.31. EOG Resources had a return on equity of 29.77% and a net margin of 23.12%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter last year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that EOG Resources will post 16.37 EPS for the current fiscal year.

In other EOG Resources news, EVP Jeffrey R. Leitzell sold 4,662 shares of the business’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $121.48, for a total transaction of $566,339.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ann D. Janssen sold 3,688 shares of the business’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $121.96, for a total transaction of $449,788.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,677 shares of company stock valued at $2,343,086. 0.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Lumature Wealth Partners LLC purchased a new stake in EOG Resources during the 1st quarter valued at $28,000. BDO Wealth Advisors LLC raised its stake in EOG Resources by 476.2% during the 1st quarter. BDO Wealth Advisors LLC now owns 242 shares of the energy exploration company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. HM Payson & Co. purchased a new stake in EOG Resources during the 1st quarter valued at $33,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in EOG Resources by 1,436.8% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 292 shares of the energy exploration company’s stock valued at $34,000 after buying an additional 273 shares during the last quarter. Finally, HBC Financial Services PLLC purchased a new stake in shares of EOG Resources in the 1st quarter worth $33,000. Institutional investors and hedge funds own 85.87% of the company’s stock.

About EOG Resources (Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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