Wolfe Research Issues Pessimistic Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price objective cut by analysts at Wolfe Research from $139.00 to $138.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the energy exploration company’s stock. Wolfe Research’s target price indicates a potential upside of 25.00% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Melius Research started coverage on EOG Resources in a research note on Wednesday, August 20th. They set a “buy” rating and a $173.00 price target on the stock. Raymond James Financial raised their price target on EOG Resources from $158.00 to $161.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 22nd. Jefferies Financial Group restated a “buy” rating and set a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. UBS Group raised 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. Finally, Royal Bank Of Canada dropped their price target on EOG Resources from $145.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $143.14.

EOG Resources Trading Down 0.8%

EOG opened at $110.40 on Wednesday. EOG Resources has a one year low of $102.52 and a one year high of $138.18. The company has a market cap of $60.28 billion, a P/E ratio of 10.73, a PEG ratio of 8.54 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The business’s 50-day simple moving average is $118.62 and its 200-day simple moving average is $117.35.

EOG Resources (NYSE:EOG) last released its quarterly earnings data 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. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities research analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

Institutional Trading of EOG Resources

Hedge funds have recently modified their holdings of the business. ARGA Investment Management LP raised its holdings in EOG Resources by 24.2% during the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company’s stock worth $1,724,000 after purchasing an additional 2,616 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in EOG Resources by 30.1% during the first quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company’s stock worth $25,107,000 after purchasing an additional 45,295 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in EOG Resources by 15.3% during the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company’s stock worth $2,609,000 after purchasing an additional 2,697 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in EOG Resources by 37.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company’s stock worth $20,852,000 after purchasing an additional 44,687 shares during the last quarter. Finally, Pinnacle Financial Partners Inc raised its holdings in EOG Resources by 4.7% during the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company’s stock worth $23,032,000 after purchasing an additional 8,127 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

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.