UBS Group Forecasts Strong Price Appreciation for EOG Resources (NYSE:EOG) Stock

EOG Resources (NYSE:EOG) had its price objective raised by equities research analysts at UBS Group from $142.00 to $144.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy exploration company’s stock. UBS Group’s price objective suggests a potential upside of 21.74% from the stock’s current price.

Several other research analysts also recently issued reports on EOG. Wells Fargo & Company restated an “overweight” rating on shares of EOG Resources in a report on Sunday, June 22nd. Barclays boosted their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, June 2nd. Mizuho dropped their price objective on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Susquehanna lifted their target price on shares of EOG Resources from $156.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Finally, Bank of America decreased their target price on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, EOG Resources currently has an average rating of “Moderate Buy” and a consensus price target of $143.61.

EOG Resources Stock Performance

Shares of EOG opened at $118.2880 on Wednesday. The company has a market capitalization of $64.58 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 9.04 and a beta of 0.80. EOG Resources has a one year low of $102.52 and a one year high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The company’s fifty day moving average price is $120.27 and its 200 day moving average price is $119.20.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the previous year, the firm posted $3.16 EPS. The business’s revenue was down 9.1% compared to the same quarter last year. As a group, analysts expect that EOG Resources will post 11.47 earnings per share for the current year.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources in the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in EOG Resources by 10,950.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 219 shares during the period. Saudi Central Bank acquired a new position in EOG Resources in the first quarter valued at approximately $28,000. Raleigh Capital Management Inc. acquired a new position in EOG Resources in the second quarter valued at approximately $29,000. Finally, Alpine Bank Wealth Management acquired a new position in EOG Resources in the first quarter valued at approximately $34,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Company Profile

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.