Wells Fargo & Company Has Lowered Expectations for EOG Resources (NYSE:EOG) Stock Price

EOG Resources (NYSE:EOG) had its target price cut by Wells Fargo & Company from $149.00 to $127.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the energy exploration company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 19.66% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Susquehanna upped their target price on shares of EOG Resources from $156.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Piper Sandler cut their target price on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. KeyCorp cut their target price on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Royal Bank Of Canada upped their target price on shares of EOG Resources from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI upped their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $141.04.

EOG Resources Stock Performance

NYSE:EOG opened at $106.13 on Friday. 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 firm has a 50-day moving average of $116.58 and a two-hundred day moving average of $115.94. The stock has a market cap of $57.95 billion, a P/E ratio of 10.31, a PEG ratio of 8.22 and a beta of 0.74. EOG Resources has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.18. The business had revenue of $5.48 billion for 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 for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.16 EPS. On average, research analysts expect that EOG Resources will post 11.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EOG Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources in the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 purchasing an additional 219 shares during the period. Saudi Central Bank acquired a new stake in shares of EOG Resources in the first quarter valued at approximately $28,000. Raleigh Capital Management Inc. acquired a new stake in shares of EOG Resources in the second quarter valued at approximately $29,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of EOG Resources in the first quarter valued at approximately $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.