EOG Resources, Inc. (EOG) Given New $96.00 Price Target at J P Morgan Chase & Co
EOG Resources, Inc. (NYSE:EOG) had its price objective hoisted by J P Morgan Chase & Co from $90.00 to $96.00 in a research note issued on Thursday. The firm presently has a “neutral” rating on the energy exploration company’s stock. J P Morgan Chase & Co’s price target would indicate a potential downside of 0.64% from the stock’s previous close.
Several other brokerages also recently issued reports on EOG. Sanford C. Bernstein reissued an “outperform” rating on shares of EOG Resources in a report on Friday, July 7th. Stifel Nicolaus reissued a “buy” rating and set a $111.00 price target on shares of EOG Resources in a report on Friday, July 14th. Barclays PLC reissued an “overweight” rating and set a $101.00 price target (up previously from $94.00) on shares of EOG Resources in a report on Wednesday, August 9th. Citigroup Inc. downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from $112.00 to $98.00 in a report on Friday, July 21st. Finally, Royal Bank Of Canada set a $115.00 price target on shares of EOG Resources and gave the company a “hold” rating in a report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $108.28.
Shares of EOG Resources (EOG) traded down 0.03% during trading on Thursday, reaching $96.62. 1,953,638 shares of the company’s stock were exchanged. The company’s 50-day moving average is $92.40 and its 200 day moving average is $91.71. EOG Resources has a 52 week low of $81.99 and a 52 week high of $109.37. The stock’s market capitalization is $55.79 billion.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). EOG Resources had a negative net margin of 2.88% and a negative return on equity of 0.68%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the firm posted ($0.38) EPS. The business’s revenue was up 47.1% compared to the same quarter last year. On average, analysts forecast that EOG Resources will post $0.62 earnings per share for the current year.
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In related news, EVP Lloyd W. Helms, Jr. sold 4,000 shares of EOG Resources stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $88.22, for a total value of $352,880.00. Following the transaction, the executive vice president now owns 70,987 shares of the company’s stock, valued at approximately $6,262,473.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary L. Thomas sold 25,000 shares of EOG Resources stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $96.63, for a total value of $2,415,750.00. Following the completion of the transaction, the insider now directly owns 1,067,465 shares in the company, valued at approximately $103,149,142.95. The disclosure for this sale can be found here. Insiders sold a total of 38,578 shares of company stock worth $3,700,882 in the last three months. 0.53% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in EOG. IHT Wealth Management LLC grew its stake in EOG Resources by 4.1% during the 1st quarter. IHT Wealth Management LLC now owns 1,039 shares of the energy exploration company’s stock valued at $101,000 after acquiring an additional 41 shares in the last quarter. Winfield Associates Inc. grew its stake in EOG Resources by 1.7% during the 2nd quarter. Winfield Associates Inc. now owns 1,151 shares of the energy exploration company’s stock valued at $103,000 after acquiring an additional 19 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in EOG Resources by 60.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,069 shares of the energy exploration company’s stock valued at $104,000 after acquiring an additional 401 shares in the last quarter. Exane Derivatives grew its stake in EOG Resources by 19.8% during the 2nd quarter. Exane Derivatives now owns 1,160 shares of the energy exploration company’s stock valued at $105,000 after acquiring an additional 192 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in EOG Resources by 17.3% during the 1st quarter. Citizens Financial Group Inc. RI now owns 1,270 shares of the energy exploration company’s stock valued at $124,000 after acquiring an additional 187 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.
EOG Resources Company Profile
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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