EOG Resources, Inc. (NYSE:EOG) Receives Average Recommendation of “Hold” from Brokerages

EOG Resources, Inc. (NYSE:EOG) has earned an average recommendation of “Hold” from the twenty-seven analysts that are currently covering the stock, Marketbeat Ratings reports. Fifteen investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $140.76.

A number of brokerages recently issued reports on EOG. Royal Bank Of Canada increased their price objective on EOG Resources from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Wells Fargo & Company lowered their price objective on EOG Resources from $149.00 to $127.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Jefferies Financial Group set a $145.00 price objective on EOG Resources in a research report on Sunday, October 12th. Susquehanna increased their price objective on EOG Resources from $156.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, July 23rd. Finally, Roth Capital lowered their price objective on EOG Resources from $126.00 to $114.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th.

EOG Resources Price Performance

EOG Resources stock opened at $105.85 on Friday. EOG Resources has a one year low of $102.52 and a one year high of $138.18. The business has a fifty day moving average price of $114.13 and a 200-day moving average price of $115.76. 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 market capitalization of $57.79 billion, a P/E ratio of 10.29, a PEG ratio of 8.20 and a beta of 0.74.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping 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 firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the company earned $3.16 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities research analysts forecast that EOG Resources will post 11.47 EPS for the current year.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently made changes to their positions in EOG. ARGA Investment Management LP increased its holdings in shares of EOG Resources by 24.2% in the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company’s stock worth $1,724,000 after buying an additional 2,616 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of EOG Resources by 30.1% in 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 buying an additional 45,295 shares during the period. Concurrent Investment Advisors LLC increased its holdings in shares of EOG Resources by 49.3% in the first quarter. Concurrent Investment Advisors LLC now owns 11,497 shares of the energy exploration company’s stock worth $1,474,000 after buying an additional 3,794 shares during the period. Jump Financial LLC purchased a new position in shares of EOG Resources in the first quarter worth about $2,796,000. Finally, FORA Capital LLC purchased a new position in shares of EOG Resources in the first quarter worth about $472,000. Hedge funds and other institutional investors 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.