Morgan Stanley Increases EOG Resources (NYSE:EOG) Price Target to $155.00

EOG Resources (NYSE:EOG) had its price target lifted by Morgan Stanley from $128.00 to $155.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the energy exploration company’s stock. Morgan Stanley’s price target would suggest a potential upside of 3.59% from the company’s previous close.

EOG has been the topic of several other research reports. Royal Bank Of Canada set a $138.00 target price on shares of EOG Resources and gave the company an “outperform” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. increased their price target on shares of EOG Resources from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of EOG Resources in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their price objective on EOG Resources from $127.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Finally, Scotiabank set a $123.00 target price on EOG Resources and gave the stock a “sector perform” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $139.52.

EOG Resources Price Performance

Shares of NYSE EOG opened at $149.63 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.42. The stock has a fifty day moving average price of $123.33 and a 200 day moving average price of $113.86. EOG Resources has a 1-year low of $101.59 and a 1-year high of $150.10. The company has a market cap of $80.27 billion, a PE ratio of 16.42, a P/E/G ratio of 3.64 and a beta of 0.44.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. EOG Resources’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $2.74 EPS. Sell-side analysts forecast that EOG Resources will post 11.47 EPS for the current year.

Insider Activity

In other EOG Resources news, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares of the company’s stock, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 2,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $130.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares of the company’s stock, valued at approximately $11,445,850. This trade represents a 2.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,532 shares of company stock valued at $1,877,405 in the last quarter. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently modified their holdings of the company. Sivia Capital Partners LLC purchased a new position in EOG Resources in the 2nd quarter valued at approximately $258,000. Global Retirement Partners LLC purchased a new stake in EOG Resources during the second quarter worth $860,000. Advisors Asset Management Inc. grew its holdings in EOG Resources by 0.3% in the second quarter. Advisors Asset Management Inc. now owns 29,892 shares of the energy exploration company’s stock valued at $3,575,000 after purchasing an additional 104 shares during the last quarter. Choreo LLC grew its holdings in EOG Resources by 41.6% in the second quarter. Choreo LLC now owns 15,388 shares of the energy exploration company’s stock valued at $1,841,000 after purchasing an additional 4,522 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of EOG Resources by 27.6% in the second quarter. Quadrant Capital Group LLC now owns 16,324 shares of the energy exploration company’s stock valued at $1,953,000 after buying an additional 3,530 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.