EOG Resources Price Target Raised to $133.00 at Wunderlich (EOG)
Equities researchers at Wunderlich increased their price objective on shares of EOG Resources (NYSE:EOG) from $124.00 to $133.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the stock. Wunderlich’s price objective indicates a potential upside of 14.11% from the company’s current price.
The analysts wrote, “EOG Resources (EOG) has distinguished itself from its peers as a first mover: first to refocus on oil shale and first to plan crude by rail as a transportation scheme. “After securing acreage in legacy plays such as the Eagle Ford Shale and the Bakken Play in the Williston Basin, the company nailed the Leonard Play and the Wolfcamp Shale in the Delaware Basin. More recently, the company unveiled four “new” plays in the Rockies, adding 400 million boe of new resource potential. While the legacy plays have been huge growth drivers, we expect more good news from the Eagle Ford and the Williston. We are raising our NAV and price target from $124 to $133 to reflect our bullish view on these two trends.”
EOG has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of EOG Resources in a research note on Thursday, June 26th. They now have a $122.00 price target on the stock. Separately, analysts at Goldman Sachs reiterated a “positive” rating on shares of EOG Resources in a research note on Thursday, June 19th. Finally, analysts at KLR Group downgraded shares of EOG Resources from a “buy” rating to an “accumulate” rating in a research note on Thursday, June 19th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $113.57.
EOG Resources (NYSE:EOG) opened at 116.55 on Wednesday. EOG Resources has a one year low of $68.405 and a one year high of $118.89. The stock has a 50-day moving average of $109.3 and a 200-day moving average of $96.19. The company has a market cap of $63.695 billion and a P/E ratio of 27.05.
EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.20 by $0.20. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Analysts expect that EOG Resources will post $5.53 EPS for the current fiscal year.
In other EOG Resources news, COO Gary L. Thomas unloaded 9,880 shares of EOG Resources stock on the open market in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $115.68, for a total value of $1,142,918.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
EOG Resources, Inc(NYSE:EOG) explores , develops, produces and markets crude oil and natural gas primarily in producing basins in the United States of America , Canada, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom , The People’s Republic of China (China), the Argentine Republic (Argentina) and, from time to time, select other international areas.
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