EOG Resources (NYSE:EOG) Price Target Cut to $170.00

Posted by Defense World Staff on May 20th, 2023

EOG Resources (NYSE:EOG – Get Rating) had its price target dropped by Piper Sandler from $171.00 to $170.00 in a research report issued on Thursday, The Fly reports. Piper Sandler’s price target indicates a potential upside of 48.36% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley decreased their target price on EOG Resources from $140.00 to $132.00 and set an “overweight” rating for the company in a report on Monday, March 27th. Scotiabank upgraded shares of EOG Resources from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the company from $150.00 to $145.00 in a research report on Thursday, April 13th. Roth Capital reaffirmed a “buy” rating on shares of EOG Resources in a research report on Friday, February 24th. JPMorgan Chase & Co. lifted their price target on EOG Resources from $139.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, April 12th. Finally, Truist Financial upped their price objective on EOG Resources from $146.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Moderate Buy” and a consensus price target of $149.38.

EOG Resources Trading Up 2.3 %

Shares of NYSE:EOG opened at $114.59 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.17 and a quick ratio of 1.90. The firm has a market capitalization of $67.02 billion, a P/E ratio of 7.17, a P/E/G ratio of 0.32 and a beta of 1.53. The business’s 50-day moving average is $113.79 and its 200 day moving average is $124.50. EOG Resources has a 1 year low of $92.16 and a 1 year high of $150.88.

EOG Resources (NYSE:EOG – Get Rating) last released its earnings results on Friday, May 5th. The energy exploration company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.27. EOG Resources had a net margin of 33.83% and a return on equity of 30.34%. The company had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the firm earned $4.00 EPS. EOG Resources’s revenue was up 51.7% compared to the same quarter last year. On average, research analysts predict that EOG Resources will post 11.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EOG Resources

A number of large investors have recently made changes to their positions in the stock. Western Financial Corp CA acquired a new stake in EOG Resources during the fourth quarter worth about $763,000. Russell Investments Group Ltd. increased its holdings in shares of EOG Resources by 23.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 359,218 shares of the energy exploration company’s stock worth $40,172,000 after buying an additional 68,282 shares during the last quarter. Personal Capital Advisors Corp raised its position in shares of EOG Resources by 30.9% during the 3rd quarter. Personal Capital Advisors Corp now owns 3,090 shares of the energy exploration company’s stock valued at $345,000 after buying an additional 730 shares during the period. AE Wealth Management LLC lifted its holdings in EOG Resources by 94.6% in the fourth quarter. AE Wealth Management LLC now owns 69,704 shares of the energy exploration company’s stock valued at $9,028,000 after acquiring an additional 33,889 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in EOG Resources by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 112,849 shares of the energy exploration company’s stock worth $14,615,000 after acquiring an additional 2,245 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Company Profile

(Get Rating)

EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.