Scotiabank Reaffirms Sector Perform Rating for EOG Resources (NYSE:EOG)

EOG Resources (NYSE:EOG)‘s stock had its “sector perform” rating reissued by equities researchers at Scotiabank in a report released on Friday, Marketbeat reports. They currently have a $130.00 price objective on the energy exploration company’s stock. Scotiabank’s price objective points to a potential upside of 10.93% from the company’s previous close.

A number of other brokerages also recently commented on EOG. Raymond James Financial upped their target price on EOG Resources from $158.00 to $161.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 22nd. Barclays upped their target price on EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. Royal Bank Of Canada decreased their target price on EOG Resources from $145.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. KeyCorp decreased their target price on EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Finally, UBS Group upped their price target on EOG Resources from $142.00 to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.48.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $117.19 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The company has a market cap of $63.98 billion, a PE ratio of 11.39, a P/E/G ratio of 9.01 and a beta of 0.85. The business has a 50 day moving average of $119.13 and a 200 day moving average of $117.62. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.18. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 earnings per share. As a group, equities research analysts forecast that EOG Resources will post 11.47 earnings per share for the current year.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares of the company’s stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new stake in shares of EOG Resources in the first quarter worth $26,000. Saudi Central Bank purchased a new stake in shares of EOG Resources during the first quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its position in shares of EOG Resources by 10,950.0% during 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 last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of EOG Resources during the second quarter valued at $29,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of EOG Resources during the first quarter valued at $34,000. 89.91% of the stock is owned by hedge funds and other 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.