Royal Bank Of Canada Issues Positive Forecast for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its price target hoisted by Royal Bank Of Canada from $140.00 to $145.00 in a report released on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the energy exploration company’s stock.

A number of other brokerages have also weighed in on EOG. Argus lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, August 25th. JPMorgan Chase & Co. lowered their price target on shares of EOG Resources from $132.00 to $131.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Piper Sandler lowered their price target on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Melius Research began coverage on shares of EOG Resources in a report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 price target for the company. Finally, KeyCorp lowered their price target on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $143.43.

EOG Resources Stock Performance

NYSE EOG opened at $110.36 on Tuesday. The firm has a market cap of $60.25 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 8.48 and a beta of 0.74. The company has a 50 day moving average of $117.98 and a 200-day moving average of $117.02. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. EOG Resources has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $3.16 earnings per share. On average, equities analysts forecast that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Institutional Trading of EOG Resources

Institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources during the first quarter worth $26,000. 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 worth $26,000 after purchasing an additional 219 shares in the last quarter. Saudi Central Bank bought a new position in shares of EOG Resources during the first quarter worth $28,000. Raleigh Capital Management Inc. bought a new position in shares of EOG Resources during the second quarter worth $29,000. Finally, Alpine Bank Wealth Management bought a new position in shares of EOG Resources during the first quarter worth $34,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.