EOG Resources, Inc. (EOG) Given Average Recommendation of “Buy” by Brokerages
EOG Resources, Inc. (NYSE:EOG) has received an average rating of “Buy” from the thirty-four ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $108.50.
Several brokerages have weighed in on EOG. Stifel Nicolaus restated a “buy” rating and set a $111.00 price target on shares of EOG Resources in a report on Friday, May 26th. Scotiabank restated a “hold” rating and set a $109.00 price target on shares of EOG Resources in a report on Tuesday, May 16th. Credit Suisse Group set a $108.00 price objective on EOG Resources and gave the company a “hold” rating in a report on Friday, June 2nd. Barclays PLC reiterated an “overweight” rating and issued a $101.00 price objective (up previously from $94.00) on shares of EOG Resources in a report on Thursday, August 3rd. Finally, Atlantic Securities upgraded EOG Resources from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $98.00 to $100.00 in a report on Tuesday, June 27th.
In other news, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $88.22, for a total value of $352,880.00. Following the completion of the sale, the executive vice president now directly owns 70,987 shares of the company’s stock, valued at approximately $6,262,473.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Israel Discount Bank of New York acquired a new stake in shares of EOG Resources in the 1st quarter valued at approximately $556,000. Morse Asset Management Inc acquired a new stake in shares of EOG Resources in the 1st quarter valued at approximately $5,899,000. Arosa Capital Management LP acquired a new stake in shares of EOG Resources in the 1st quarter valued at approximately $13,828,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of EOG Resources by 1.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,810,291 shares of the energy exploration company’s stock valued at $176,594,000 after buying an additional 31,630 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in shares of EOG Resources by 79.2% in the 1st quarter. Engineers Gate Manager LP now owns 30,107 shares of the energy exploration company’s stock valued at $2,937,000 after buying an additional 13,304 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.
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Shares of EOG Resources (NYSE EOG) traded down 2.05% during midday trading on Friday, reaching $86.78. The company had a trading volume of 2,687,176 shares. The company’s 50 day moving average price is $88.48 and its 200-day moving average price is $92.05. The company’s market capitalization is $50.11 billion. EOG Resources has a 52 week low of $81.99 and a 52 week high of $109.37.
EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.02. EOG Resources had a negative return on equity of 0.68% and a negative net margin of 2.88%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the company earned ($0.38) EPS. EOG Resources’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities research analysts predict that EOG Resources will post $0.61 earnings per share for the current fiscal year.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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