EOG Resources (EOG) Price Target Cut to $116.00 by Analysts at Morgan Stanley

EOG Resources (NYSE:EOG) had its price objective cut by equities research analysts at Morgan Stanley from $142.00 to $116.00 in a report issued on Wednesday. The firm presently has a “buy” rating on the energy exploration company’s stock. Morgan Stanley’s price target would suggest a potential downside of 1.49% from the company’s previous close.

A number of other research firms have also issued reports on EOG. Piper Jaffray Companies restated a “buy” rating and set a $106.00 price target on shares of EOG Resources in a report on Wednesday, November 22nd. Argus boosted their price target on shares of EOG Resources to $133.00 and gave the company a “buy” rating in a report on Monday, January 8th. BMO Capital Markets reiterated a “buy” rating and issued a $120.00 price objective on shares of EOG Resources in a research note on Thursday, January 11th. Credit Suisse Group set a $126.00 price objective on shares of EOG Resources and gave the company a “hold” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Bank of America lowered shares of EOG Resources from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research note on Thursday, January 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. EOG Resources currently has an average rating of “Buy” and an average price target of $115.32.

EOG Resources (NYSE EOG) traded up $0.31 during mid-day trading on Wednesday, hitting $117.76. 2,170,000 shares of the stock were exchanged, compared to its average volume of 2,670,000. EOG Resources has a twelve month low of $81.99 and a twelve month high of $119.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.27 and a quick ratio of 1.11. The firm has a market capitalization of $68,090.00, a price-to-earnings ratio of 11,776.00, a P/E/G ratio of 4.44 and a beta of 0.98.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, November 2nd. The energy exploration company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.07. EOG Resources had a net margin of 0.10% and a return on equity of 1.73%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. equities research analysts predict that EOG Resources will post 0.95 EPS for the current fiscal year.

In other EOG Resources news, EVP Michael P. Donaldson sold 15,322 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $114.26, for a total value of $1,750,691.72. Following the completion of the sale, the executive vice president now directly owns 59,917 shares of the company’s stock, valued at $6,846,116.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy K. Driggers sold 8,871 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $105.45, for a total transaction of $935,446.95. Following the completion of the sale, the chief financial officer now directly owns 185,157 shares of the company’s stock, valued at $19,524,805.65. The disclosure for this sale can be found here. Insiders sold 73,048 shares of company stock valued at $8,152,193 over the last three months. Insiders own 0.53% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Baker Ellis Asset Management LLC bought a new stake in EOG Resources in the third quarter worth approximately $101,000. Chicago Partners Investment Group LLC grew its position in EOG Resources by 178.0% in the third quarter. Chicago Partners Investment Group LLC now owns 1,112 shares of the energy exploration company’s stock worth $108,000 after acquiring an additional 712 shares in the last quarter. Cerebellum GP LLC bought a new stake in EOG Resources in the fourth quarter worth approximately $125,000. Fis Group Inc. bought a new stake in EOG Resources in the third quarter worth approximately $130,000. Finally, Quantbot Technologies LP bought a new stake in EOG Resources in the third quarter worth approximately $153,000. 85.31% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for EOG Resources (NYSE:EOG)

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