Raymond James Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG) had its target price lifted by research analysts at Raymond James from $140.00 to $148.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the energy exploration company’s stock. Raymond James’ price target would indicate a potential upside of 32.84% from the company’s current price.

Several other research analysts have also commented on the stock. Morgan Stanley decreased their price objective on shares of EOG Resources from $142.00 to $136.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Barclays decreased their price target on shares of EOG Resources from $140.00 to $137.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Williams Trading set a $154.00 price target on shares of EOG Resources in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Scotiabank upgraded shares of EOG Resources from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.05.

EOG Resources Stock Down 1.0%

Shares of NYSE EOG opened at $111.41 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources has a 12 month low of $102.52 and a 12 month high of $138.18. The firm has a market capitalization of $60.81 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The firm has a fifty day simple moving average of $115.21 and a two-hundred day simple moving average of $124.10.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the business earned $2.82 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities analysts expect that EOG Resources will post 11.47 earnings per share for the current year.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.13% of the company’s stock.

Institutional Trading of EOG Resources

A number of large investors have recently made changes to their positions in EOG. Ritholtz Wealth Management boosted its holdings in shares of EOG Resources by 40.0% in the fourth quarter. Ritholtz Wealth Management now owns 5,910 shares of the energy exploration company’s stock worth $724,000 after buying an additional 1,690 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of EOG Resources by 32.3% in the fourth quarter. Merit Financial Group LLC now owns 5,710 shares of the energy exploration company’s stock worth $700,000 after buying an additional 1,395 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of EOG Resources by 17.7% in the fourth quarter. HB Wealth Management LLC now owns 14,723 shares of the energy exploration company’s stock worth $1,805,000 after buying an additional 2,212 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of EOG Resources by 10.0% in the fourth quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company’s stock worth $114,000 after buying an additional 84 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its holdings in shares of EOG Resources by 7.7% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 44,841 shares of the energy exploration company’s stock worth $5,497,000 after buying an additional 3,205 shares during the last quarter. 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.